Finally, Some Much Needed Help for Low-Income College Students

Last week President Bush signed into law the College Cost Reduction and Access Act of 2007. The bill provides for a $11.4 billion increase in funding for the Pell Grant program over the next five years. Pell Grants are reserved exclusively for low-income students. About one quarter of all Pell Grant recipients are African Americans.

The new program will push the maximum Pell Grant award from its present level of $4,310 to $5,400 in 2012. This is the first significant increase in the maximum Pell Grant award since President Bush took office.