Republican Buck McKeon and Democrat George Miller are key votes on this action.
Congressman George Miller
Congressman Buck McKeon
Below you will find the latest proposed Congressional Budget Changes to be voted on next Saturday.
Please note that Ability To Benefit (ATB) Students will be eliminated from Pell Grant Eligibility effective July 1, 2012.
ATB students comprise 23% of our sectors students and are often working adults who are the most in need of financial assistance to complete their education. Many will be unable to barrow to replace the lost grant funds and will have to drop out.
Federal Pell Grant FY12 Maximum: $5,550
- Federal Pell Grant FY12 Appropriations: $4,860
- Federal Pell Grant Mandatory Additions: $690 (Mandatory funding increases incrementally and then sunsets at conclusion of FY17 - September 30, 2017)
Federal Pell Grant FY12 Shortfall: $1.3 Billion
Offsets to Fund Shortfall/Program:
Federal Student Loan Program Revisions - INCLUDED:
- TEMPORARY Elimination of Federal Stafford Loan (Subsidized) "Grace Period" Subsidy - Effective only for FDS loans made on or after July 1, 2012 and before July 1, 2014.
- Providing Lender/Servicers with the Option to Use TRANSITION FROM "Commercial Paper" or "LIBOR" for Special Allowance Payments - Effective for the calendar quarter beginning April 1, 2012 (and all previously originated loans) if the lender chooses to switch.
Federal Pell Grant Program Revisions - INCLUDED:
- Reduction in Maximum Years of Pell Eligibility to 6 Yrs./12 semesters or their equivalent (previously 9 Yrs./18 semester or their equivalent) - Effective July 1, 2012 to coincide with the new Academic Award Year.
- Decrease in "Auto-zero" to $23,000 (previously $30,000) - Effective July 1, 2012 to coincide with the new Academic Award Year.
- Elimination of Federal Pell Grants, SEOG, FFELP, Work-study, and FDSLP eligibility for Ability-to-Benefit Students -Effective for any student who first enroll in a program on or after July 1, 2012 - all currently eligible students maintain eligibility through completion of the current program.
- Elimination of Eligibility for Student with grants calculated below ten percent of the maximum basic grant (previously students with greater than five percent, but less than ten percent were awarded eligibility at the ten percent threshold) - Effective July 1, 2012 to coincide with the new Academic Award Year.
Help make this a better Holiday for our ATB students, Contact your local Congressional Representative and Mr. Miller and Mr. McKeon. Ask them to support our ATB students ability to access Pell Grants.
Congressman George Miller