Thousands of college students and higher education hopefuls struggle with tuition fees. Biden is aware of this plight.
His administration has found a new way to help people who seek a first degree. Here are the details of the change.
President Biden signed the bill last week. The cost went into a funding plan worth $1.7 trillion and will cause the rise of Pell Grants by $500. The new value is about $7,400, up from about $6,895.
Some of the $1.7 trillion will go to other initiatives. Biden outlined this in a tweet. The message said, "Invest in medical research, safety, veteran health care, disaster recovery, VAWA funding – and [gives] crucial assistance to Ukraine."
This legislation also ensures the government avoids a partial shutdown. It means the office will operate until the end of the federal budget year.
Last year, Biden increased Pell Grant aid by $400. This financial program helps low-income students. It also supplements some secondary schools, like trade academics. This benefit helps 7 million students, around one-third of undergraduates. Interested persons can apply for it via the Free Application for Federal Student Aid (FAFSA) form.
Pell Grants focus on students studying to earn their undergraduate degree. The deadline to apply for aid for the 2023 to 2024 academic year is June 30, 2023.
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*Disclaimer: This article is for informational purposes only. This article got written using accredited media reports. *Advice Disclaimer: The article and the information contained herein are not intended to be a source of advice. This article should not be considered money or other advice. The ideas, numbers, and strategies should never be used without first assessing your own personal and financial situation, or without consulting an advisor or other professional.*
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