Pell Grant Preservation and Expansion Act of 2024

The Pell Grant Preservation and Expansion Act of 2024 would significantly increase federal financial aid for college students by doubling the maximum Pell Grant award from current levels to $10,000 for the 2025-2026 academic year, with annual inflation-based increases reaching $14,000 by 2030-2031. The bill would make Pell Grants a mandatory program that grows with inflation (instead of relying on annual appropriations) and expand eligibility to include "Dreamer" students who came to the U.S. as children, as well as students with negative student aid indexes who would receive grants exceeding the maximum amount. It also restores the total number of semesters students can receive Pell Grants from 12 to 18 and makes it easier for students to maintain eligibility by reducing penalties for academic progress issues. This legislation directly affects millions of undergraduate students, particularly students of color and low-income students who rely on Pell Grants to afford college.