If you’re one of the more than nine million undergrads who depend on Pell Grants to pay for school, you have probably been pretty anxious over the past few weeks.
This past February, the United States House of Representatives passed a Continuing Resolution which would slice the federal budget drastically. One of the programs to be affected by the cut is the Pell Grant program. The maximum amount of funds available to college students would be lowered from $5,550 to $4,705 and the changes were set to take effect for the 2011-2012 academic year.
Students were able to breathe a sigh of relief when the Pell Grant program, which has long received bipartisan support from the Senate, was able to avoid major cuts after all. The debt-ceiling bill passed earlier this week [...]