Affordability

'To help students, Congress should start by doubling the maximum Pell Grant'

For college students and student loan borrowers, the HEALS Act proposed by Senator McConnell today is too little, too late. In the face of a surging pandemic, it cuts off much-needed relief for millions of student loan borrowers and fails to invest enough in public colleges to prevent dire consequences for students.

This brief illustrates that while many borrowers in IDR will repay their loans in full, those who do receive a discharge of remaining debt after 20 or 25 years of responsible payments may face an unaffordable tax liability because these discharged amounts are treated as taxable income under current law.

Summarizes loan limits, interest rates, and other terms for federal student loans issued from July 1, 2020 through June 30, 2021.

One-pager on the importance of the Pell Grant program, the impact of recent changes, and the projected slight decline in Pell Grant program costs.

Over 80 organizations urge Congress to invest in and protect the Pell grant program during and after the COVID-19 crisis.