TICAS Statement on President Biden’s FY24 Budget Proposal
TICAS Statement on President Biden’s FY24 Budget Proposal
President Biden’s fiscal year 2024 budget proposes critical investments in college affordability and completion to help millions of students realize the benefits of a college degree. Taken together, these proposed investments would improve access to higher education and directly benefit students while helping ensure more people with low incomes can complete their educational journeys and achieve economic security and mobility.
The budget would:
- Increase the maximum Pell Grant award by $820 for the 2024-2025 award year through a combination of discretionary and mandatory spending, as part of the president’s commitment to doubling the maximum award by 2029;
- Expand free community college across the nation via a federal-state funding partnership;
- Invest in a range of critical student supports to remove barriers to education and increase completion, including TRIO and GEAR UP, along with evidence-based college completion efforts, expanded access to child care, and improved mental health resources;
- Make improvements to increase access to Supplemental Nutrition Assistance Program (SNAP) benefits;
- Support Historically Black Colleges and Universities, Tribally Controlled Colleges and Universities, and Minority-Serving Institutions;
- Provide critical funds for the Office of Civil Rights and resources for the Office of Federal Student Aid to better protect and support student loan borrowers; and
- End permanently the taxation of all discharged student loans.
Today’s proposal signals the administration’s commitment to our nation’s students and advancing racial and economic equity through higher education. We now urge policymakers to make these and other essential investments to bring a high-quality, debt-free college education within all students’ reach; protect students and taxpayers from predatory colleges; and provide long-overdue relief to student loan borrowers.
