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2/2/2007
According to a February 2, 2007 article from The Associated Press, U.S. Secretary of Education Margaret Spellings recently announced that a proposed $550 Federal Pell Grant increase will be included in President Bush's 2008 budget. A proposed Federal Pell Grant increase of $260 had been previously passed by the U.S. House of Representatives. Over the past two decades, Federal Pell Grant awards have not increased to keep up with tuition. In the 1980s, a maximum grant covered roughly 60% of the cost to attend a public four-year university. During the 2005-06 academic year, the buying power of a maximum grant covered approximately one-third of those same expenses.
The article is available at the CNN.com Web site. A corresponding press release is posted at the U.S. Department of Education Web site.
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