Biden Budget Proposes Pell Grant Increase, More Money for HBCUs

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Matthew Arrojas

March 13, 2024

President Joe Biden is pushing for continued investment in college affordability and access, but to a lesser extent than in past years.

Biden released his budget proposal for fiscal year 2025 on Monday. While his higher education priorities like college affordability and support for minority-serving institutions (MSIs) seemingly remain unchanged from past years, his budget notably dials back the sticker price of many of his priorities.

He requested a $750 increase to the maximum Pell Grant, which would bring the maximum award to $8,145 annually.

For reference, he called for a $820 increase in his fiscal year 2024 budget proposal.

Still, a $750 increase would be helpful for many of the 7 million students who utilize Pell Grants to attend college each year. It may also help keep Biden on track to meet his goal of doubling the maximum Pell Grant from 2023-2029, but it’s worth remembering that the federal government has yet to pass a 2024 budget with a Pell Grant increase.

This comes soon after the Committee for a Responsible Federal Budget predicted that the federal government would exhaust Pell Grant reserves by 2026 or sooner.

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