The Pell Grant program, vital for over 30% of American college students, is projected to encounter a $2.7 billion budget shortfall in the next fiscal year. This alarming trend could escalate to a $10 billion deficit by fiscal year 2026-27 unless Congress injects more funds. Advocates express deep concern that without an increase in funding, low-income students will be significantly hindered in accessing higher education. Experts stress that Pell funding is crucial not just for enrollment but also for ensuring students complete their degrees amid rising tuition costs and inflation.
"Pell funding doesn't just increase enrollment and help students afford college, it also increases completion rates," Fishman said. "As it stands, even without further cuts, there are major gaps in what students need from the program."
The multibillion-dollar shortfall is a major shift from last June, when the CBO actually projected a budget surplus for Pell and said it didn't expect a shortfall until 2029.
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