Today @ Colorado State has been replaced by SOURCE. This site exists as an archive of Today @ Colorado State stories between January 1, 2009 and September 8, 2014.

Higher Ed in the News

Pell Grant program facing massive shortfall

December 11, 2009

The Pell Grant program for needy college students is facing a massive shortfall as the country's bleak job market drives people back to school.

The program will reportedly cost $18 billion more than Congress and the White House had anticipated over the next three years. Lawmakers had approved a 13 percent increase in the maximum grant as part of President Barack Obama's economic stimulus law. That boosted this year's Pell Grant by $500 to $5,350.

The looming shortfall is the largest in the 36-year history of the program, whose entire budget was about $18 billion last year.

----------------------------

Read the full story from USA Today.