Financing Evidence-Based College Completion Programs

In July 2023, the U.S. Department of Education released the final version of its new income-driven repayment (IDR)…

The Pell Grant program is the federal government’s most effective investment in college affordability, but the share of college costs covered by the grant is at an all-time low. For our higher education system to fulfill its promise, the federal government must provide more student aid. 

Summarizes loan limits, interest rates, and other terms for federal student loans issued from July 1, 2022 through June 30, 2023.

From 1972 to today, the federal Pell Grant program has provided need-based grant aid to 80 million low- and moderate-income students to help them achieve the dream of a college degree. Fifty years in, Pell Grants remain the federal government’s most effective investment in college affordability — but the share of college costs covered by the grant is at an all-time low.

Summarizes loan limits, interest rates, and other terms for federal student loans issued from July 1, 2021 through June 30, 2022.

Completing a quality degree is key to unlocking the full range of benefits of higher education, including securing meaningful employment that supports a student’s ability to repay their loans.