SENATOR COLLINS INTRODUCES LEGISLATION TO INCREASE PELL GRANTS

Washington, DC—Senator Collins introduced legislation today to strengthen the Pell grant program so that more families can afford higher education. Senator Collins' legislation will increase the maximum Pell grant award to $4,500 for the 2005-2006 award year, a $450 increase in a single year. It also provides higher authorization levels for the Pell maximum grant that would allow for a doubling of the maximum grant to $9,000 over the next five years.

"Pell grants make the difference in whether students have access to higher education, and a chance to participate fully in the American dream," Senator Collins said. "That is why I am introducing a resolution calling on the Senate to begin restoring the value of the Pell grant program."

In 1975, the maximum Pell grant covered approximately 80 percent of the costs of attending a public, four-year institution. Today, it covers less than half of these costs, forcing students to make up the difference by taking on larger and larger amounts of debt. On average, students from the University of Maine graduate with approximately $18,000 in debt from federal student loans alone, and this reflects national trends.

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