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Oct 25th

Pell Grant reduction too costly to students

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The proposed 15 percent decrease to the Pell Grant, a financial award to low-income students, will have significant impact on the more than 153 eligible students and families in Minnesota who desire access to college. Preserving the maximum level of Pell Grant funding is vitally important not only to maintain and raise the number of college graduates in Minnesota, but also for the health and growth of Minnesota’s economy. Without increasing the percentage of Americans who have a college degree or other postsecondary credential, the U.S. will have a labor market shortage of 23 million college-educated adults by 2025. In Minnesota alone, 70% of all jobs will require postsecondary education by 2018.

Minnesota College Access Network (MCAN) joins the National College Access Network in urging Congress to protect Pell grants at its maximum level of funding at $5,550. “In Minnesota, the proposed reduction will cost our state $93,300 in financial aid for the students most in need,” says Amanda Ziebell-Finley of MCAN. “It is critical that funding for the Pell Grants remain at its current level to allow all of our students access to the education they deserve.”

“Pell Grants have served as the cornerstone of college opportunity for our lowest income students,” Kim Cook, executive director of the National College Access Network, said.  “The proposed cut of $845, roughly the amount of a semester of community college tuition, will threaten college attendance and graduation for thousands of students.”

The delay of this decision is further detrimental to students because colleges are unable to make final financial aid offers. Many students may have to decide where to go to college without knowing how much financial aid they will receive, creating uncertainty and potential financial.

For more information on Pell Grant funding, visit the MNCollegeAccess.org web site at http://www.mncollegeaccess.org/Protect_Pell_Grant_Funding.html
 

 

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