Obama’s Budget Would Increase Pell Grants and Add Incentives on Some Student-Aid Money

In his long-awaited budget for the 2014 fiscal year, released on Wednesday, President Obama asks Congress to increase the maximum Pell Grant by $140, to $5,785, and spend $8-billion on job-training programs at community colleges.

The spending plan, which comes roughly three weeks after the U.S. Senate and House of Representatives passed budgets outlining their own priorities, repeats the president’s call to expand and remake the Perkins Loan program, an idea he first offered in 2009. It would raise spending on Federal Work-Study by $150-million, doubling the number of recipients over five years, but would provide no increase for Supplemental Educational Opportunity Grants.

Minority-serving institutions would receive level funds, as would the TRIO and Gear Up college-preparatory programs.

Typically, the president releases his budget in February, shortly after his State of the Union address, and the House and Senate follow suit. The White House has blamed this year’s delay on uncertainty created by sequestration, which cut billions from the current year’s budget and will slash $1.2-trillion over the next decade unless Congress intervenes. <Read more.>

Via Kelly Field, The Chronicle of Higher Ed.