Briefly: Pell grant budget to increase

In an upcoming economic stimulus bill, Congress will increase the budget for Pell grants by $15 billion, Politico reported Tuesday. If passed, the bill will increase the amount of an annual Pell Grant by $500, or 10.6 percent. For the current year, the maximum value of a Pell grant is $4,731, and the Pell grant budget for 2008 is more than $16.2 billion, according to the U.S. Department of Education. In September, President George W. Bush ’68 said $6 billion in additional funds would likely be needed for upcoming year. Of Yale’s current freshman class — the most economically diverse class in the University’s history — 12.6 percent of students qualify for Pell grants, usually given to students with annual incomes below $40,000.

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