The Pennsylvania Higher Education Assistance Agency wants more money to raise to the maximum state grant award to a record-high $5,933.
The Pennsylvania Higher Education Assistance Agency board of directors on Thursday approved asking the General Assembly for more money next year to boost the maximum state grant award by nearly 3.2% to $5,933. File/ Jan Murphy, PennLive.comThe state’s student aid agency is asking for the General Assembly to set aside more money in next year’s budget to allow the maximum state grant for college students to rise a record-high $5,933.
Sen. Art Haywood, D-Philadelphia, who chairs the board’s need analysis and aid coordination committee, said the committee recommended this increase to adjust this year’s $5,750 maximum award by the rate of inflation. Funding for the grant program comes mainly from the state budget. PHEAA has historically directed a portion of its proceeds from its student loan business lines to supplement the state appropriation. This year, the agency’s supplement was $15 million.
PHEAA spokeswoman Bethany Coleman said the agency would need this legislative authorization by April or May to avoid reducing the size of grant awards for college students attending summer classes.
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