College students and their families will see a newly redesigned Free Application for Federal Student Aid when they apply for financial aid in the coming months.
The updated FAFSA — which is slated to be available by the end of December — will not only streamline the process and make it easier for families to apply for aid, but also expand eligibility for federal aid, including Pell Grants.
Under the changes, 610,00 more students nationwide will become eligible for Pell Grants and nearly 1.5 million more students will receive maximum Pell Grant eligibility, the Department of Education said in a press release on Wednesday.
The maximum Pell Grant award was $7,395 for the 2023-24 aid year.
"More students are going to get Pell Grants, they're going to get larger Pell Grants, and it's going to be easier to navigate the financial aid system as a whole," James Kvaal, Under Secretary of Education, tells CNBC Make It.
Persons:
Pell, Grant, Pell Grant, James Kvaal
Organizations:
Federal Student Aid, Pell Grants, Department of Education, CNBC