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Excerpt: To ease the rising costs of college tuition, President Bush said Friday he will ask Congress to increase by $500 over five years the maximum amount of a federal grant to help low-income students afford higher education.
To ease the rising costs of college tuition, President Bush said Friday he will ask Congress to increase by $500 over five years the maximum amount of a federal grant to help low-income students afford higher education.
Students should "aim high in life," Mr. Bush said at Florida Community College at Jacksonville, "and that's what the Pell Grants can be used for."
Mr. Bush called for raising the Pell Grant by $100 in each of the next five years. That would put the maximum grant at $4,550 by 2010, up 12% from the $4,050 offered today. The president also said he will ask Congress to reform the student-loan program to make it more "effective and efficient" and then use that savings to make up a $4.3 billion shortfall in the program. The president, however, did not detail what changes he planned to propose.
"We intend to use the savings from changing how student loans are granted and administered for closing that deficit," said Mr. Bush, who was introduced by his brother, Florida Gov. Jeb Bush.
In addition, Mr. Bush said he wants to encourage high-school students to take rigorous course loads by giving them an additional $1,000 on Pell Grants they could use for college.
Pell Grants, the government's largest form of financial aid, help low-income students afford college. The grants, received by five million students, range from $400 to $4,050, depending on students' financial need, their cost to attend school and whether they are enrolled part-time or full-time.
Norma Kent, a spokeswoman for the American Association of Community Colleges, said an estimated two million students, or about one-third of all community-college students, receive Pell Grants. Higher grants would be welcome relief from rising costs, she said.
In 2004, the average in-state tuition at public, four-year colleges rose 10.5% to $5,132, according to the College Board. Tuition at two-year public colleges rose 8.7% to $2,076, and at private colleges rose 6% to $20,082.
The Pell Grant increase Mr. Bush proposed, however, was shy of his pledge during the 2000 presidential campaign to raise the maximum award to $5,100. Despite soaring college costs, it's been stuck at $4,050 for three years.
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