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Hoping for a Pell Grant award next year, but don’t know how much to expect? See below for the estimate and what else it means for financial aid programs.

The Pell Grant program will have more funds next year, and it should be enough to put a few students through college: $2.6 billion more than this year. How much of that will come to you? Awards should total $5000 to $5400 per student maximum. All this depends on your need, your FAFSA, EFC and so on.

Financial Aid Programs

Currently, the White House wants to shift money from student loan programs like Perkins Loans into grant programs. The proposal indicates 47 programs ending – quite a bunch. In reality, congress will make the decision themselves and then submit it for approval. I doubt all those programs will completely vanish, but we may see programs change some.

Other Student Aid

Why would the president propose to discontinue 47 programs? First, because he wants to move the money to another place. In this case, $20 billion over 5 years would go into grant programs. But also, in the past lenders didn’t have private student loans that worked well. Read more… »