March 9, 2005 Extra Credit
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March 9, 2005

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Paying For A Postsecondary Education: Part I

The President’s Budget makes college affordability a high priority. It outlines changes in federal postsecondary student financial assistance programs to help ensure that a student’s financial limitations do not prevent that student from going to college or other postsecondary training.

President Bush already has substantially increased the amount of grant and loan assistance available to postsecondary students and their families. For example, over one million more low-income college and other postsecondary students are receiving Pell Grants this year than when the president first took office; and under the 2006 request, funding for the Pell Grant program will have grown by $4.9 billion, or 56 percent, since FY 2001. One major component of expanded access to Pell Grant funding is the use of a combination of mandatory and discretionary funds that would increase the maximum Pell Grant award by $100 annually over the next five years, from $4,050 to $4,550, while retiring the $4.3 billion Pell Grant shortfall accumulated from fiscal years 2002 to 2005.

Similarly, overall postsecondary student financial aid would increase from $48 billion in FY 2001to $78 billion in FY 2006, with the number of recipients rising from 7.7 million to more than 10 million.

To learn more about President Bush’s new education proposals, order a free copy of the booklet: No Child Left Behind: Expanding the Promise—Guide to President Bush’s FY 2006 Education Agenda by:

  • Calling the U.S. Department of Education's Publications Center (ED Pubs) toll-free at 1-877-4-ED-PUBS (1-877-433-7827); TTY/TDD: 1-877-576-7734; FAX: 1-301-470-1244;
  • Writing to request a copy: ED Pubs, P.O. Box 1398, Jessup, MD 20794-1398.

About Extra Credit
NCLB Extra Credit is a regular look at the No Child Left Behind Act, President Bush's landmark education reform initiative passed with bipartisan support in Congress.

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Last Modified: 08/14/2013