The omnibus spending bill passed by the House of Representatives in February was approved by the Senate last night, and is expected to be signed by President Obama this week. The bill includes more funding for Federal Pell Grants, fixing the maximum award at $5,350 for 2009-2010, a number that's already been widely publicized.
Other student financial aid programs also receive a funding boost for the current fiscal year, including the Federal Perkins Loan cancellation program and several federal scholarship and fellowship programs. These increases aren't necessarily tied to larger award amounts, however. Federal Work-Study, which received a boost in the stimulus bill, will see the increase put into effect in the 2009-2010 fiscal year under the omnibus [...]