<p>"Increasing college affordability for more 7 million students by funding the shortfall in
Pell Grants and increasing the maximum award level by $500. Demand for the Pell
Grant has surged during the economic downturn. The ARRP will ensure the Pell Grant is
available to those who need it and make the award more generous."</p>
<p>Only if it has been signed into law. If it hasn't been signed into law yet, don't count on it. It's all part of the bill that is being debated & picked apart right now. Unless I missed something, it's still up in the air.</p>
<p>Well that's just amazing. I think it's really funny how we're in the worst recession we've had since the Great Depression, and our Pell Grant was just increased... shows that the government finally realizes the true importance of giving everyone an equal chance at a great education.</p>
<p>As for 12layla12's comment - in a way. The true middle class is still squeezed out. I am not talking about the upper middles - I am talking about those who don't get the Pell but are still not making a lot of money. Those folks whose EFC's are around 5000 don't get much grant aid from the government - no ACG or SMART, usually no SEOG, etc. It's tough, because those folks really get the shaft. I hear folks who make 100k complain - but they aren't the really needy ones. It's those who make too much for Pell - too little to afford to pay. I hope that someday they can get some relief.</p>
<p>The Whitehouse.gov summary says an increase of $500, but the actual final text of the bill says it's $619!</p>
<p>"The conference agreement specifies that funding is available to support a $4,860 maximum Pell Grant award for the 2009-2010 award year, as specified in the House bill. With the additional $490 in mandatory funding, combined with the increase in the fiscal year 2009 omnibus, the maximum Pell Grant award will be $5350."</p>
<p>So, turns out, you're saving an additional $120 :)</p>
<p>We can't tell - have to wait till they tell us. Last year the max Pell increased from $4310 to $4731 but the maximum but the maximum EFC for eligibility went down from @ 4110 to 4041. Who knows how their logic works.</p>
<p>Kelsmom, my complaint is that fedaid is not adjusted for COLA. This complaint is not on behalf of me, but my friends who are teachers, govt employees etc.</p>
<p>
[quote]
SCM, when do you think we'll find out?
[/quote]
No idea. Before the fall semester hopefully!! I think we knew by this time last year. It is annoying for us as individuals - imagine how frustrating for the financial aid officers who are trying to get hundreds of aid packages together and don't have the information yet.</p>
<p>I would think it would need to be pretty soon. As you said, otherwise the FA departments can't possibly send out aid packages. We're in limbo waiting.</p>
<p>I made a few calls today. Son's FA office says that they haven't gotten anything definitive about maximum EFC with the new Pell amounts and are still figuring based on 4041. D's potential school says as far as they know, the max EFC for 2009-2010 is going to remain at 4041. A call to the federal student aid phone number also resulted in a 4041 number with no change expected answer.</p>
<p>It wouldn't surprise me for there to still be a change in that max value for Pell eligibility, but it's looking more like it will just hold the line. I guess the 800,000 new recipients, a number I keep seeing thrown around, it going to be due to increased applicants and the impact of the economic crisis to date driving down some people's EFCs that were not recipents before. </p>
<p>If I understand the procedure (and I am not sure ANYONE really does), then the gap has the potential to widen even more. Last year, EFC = 4042, Pell = 0. EFC = 4041, Pell = $890. With the max award going up $619, which both FA departments confirmed they got letters stating, it could theoretically widen that gap by that much I guess. Possible this year EFC = 4042, Pell = 0, EFC = 4041, Pell = 1509. To me, that's just a crazy differential for a dollar. Plus with the opportunity for the FSEOG, ACGs and the National SMART grant as well as other outside and school scholarships that require PELL eligibility, that one dollar could cost thousands.</p>
<p>the maximum efc is 4617. anything above that and you're out of luck with the pell grant, which means there is a strong possibility of loans in your future.</p>
<p>it is a pdf file so you can save it to your computer or just print it out. 8 pages though.</p>
<p>take a look at it and good luck everyone in the pell grant sweepstakes!</p>