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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.