SENATOR COLLINS ENCOURAGED BY PRESIDENT’S PROPOSED PELL GRANT ACTION

Washington, DC – Senator Collins was encouraged by today's announcement by President Bush regarding a proposal to increase the maximum Pell Grant awards and eliminate the shortfall in this program. Pell Grants help make college possible for millions of qualified low-income students each year. These grants are the primary component of our federal need-based financial aid system, to which other resources may be added.

"Increasing Pell Grant awards has long been a priority of mine and I am pleased that the President is proposing to increase the maximum award," Senator Collins said. "I look forward to learning more about the proposal, as increasing Pell Grants is one way to keep the doors to higher education open to all students, no matter what their financial means."

Today, Pell Grants cover less than 40 percent of the average tuition and costs at a public four-year institution, forcing students to rely more heavily on student loans. Senator Collins sponsored an amendment last year that would have increased the maximum Pell Grant award to $4,500. This increase of $450 would have been the first increase in Pell Grant maximums in three years. With education costs continuing to rise at both public and private institutions, increases in grant aid are needed. Senator Collins intends to once again make increasing the Pell Grant maximum a top priority.

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