Ohio University students can expect an increase in next year's Pell Grant awards, according to a new federal budget.The maximum grant value for the 2008-09 academic year will increase to $4,731, up $421 from this year's maximum award.
The minimum award will stay at $400.
Pell Grants are awarded to undergraduate students based on financial need analyzed by the Free Application for Federal Student Aid (FAFSA). Awards are disbursed according to the student's expected family contribution, cost of attendance (determined by the university), full-time or part-time attendance and whether the student attends for a full academic year or less, according to the U.S. Department of Education.
The increase in Pell Grant values are part of the 2007 College Cost Reduction and Access Act, which also cut interest rates on federal student loans, said Rachel Racusen, deputy communications director for the U.S. House Committee on Education and Labor, in an e-mail. When Democrats took control of the House, they promised to make higher education more affordable, she wrote.
Sondra Williams, OU's director of student financial aid and scholarships, said she is very pleased with the value increase.Although on paper the new amount doesn't look like very much
every dollar counts when you are trying to pay for college she said. It appears the government is taking more of an interest in finding ways to make higher education more affordable.
Nearly 2,800 OU students were awarded Pell Grants for the 2006-07 school year, totaling about $7.4 million on the Athens campus alone, Williams said. Students received awards valued between $400 and $4,050.
The number of OU students with Pell Grants peaked in the 2004-05 school year ' nearly 3,000. Williams said the up and down numbers could be attributed to many factors, including transfer and dropout students.
Yet next year's increase falls short of the $4,800 projected by the U.S. House Committee on Education and Labor. The Consolidated Appropriations Act of 2008 limited Pell Grant funds because of budget struggles, according to the Appropriations Committee and National Association of Student Financial Aid Administrators.
Although it's disappointing the increase wasn't what was expected
many of our students depend on Pell Grants and any increase goes a long way for covering expenses
Williams said.
She added that there were no increases in Pell Grants from 2003 to 2006.
Williams said she is impressed that the government decided to award this much money.
It's about time they put their money where their mouth is.
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