Facts of the Month

Increase in Pell Grant Expenditures

In a sign of the economic times, federal Pell Grants now serve 7.7 million students with an average award of $3,646 and the maximum Pell Grant covers 34% of the tuition at a public university. Pell Grant funding has increased 25% in the average grant per person while the number of recipients increased 26% in just one year (2008-2009 vs. 2009-2010). That amounts to a 58% increase in Pell Grant expenditures.
Source: National Association of Student Financial Aid Administrators & the College Board

Publication Date: November 2010