Thanks to new legislation there may be more money available to college students looking for financial aid through Pell Grants. Pell Grants are a form of student aid that are based on income and don’t have to be paid back, so they are sought mostly by lower income students that may not be able to afford college.
New legislation for student loans has actually given Pell Grants more money, which can be given to needy college-bound students. Private lenders or banks that were guaranteeing federal student loans are going to be eliminated and loans will come directly from the government, which will save on costs, leaving more money for aid like Pell Grants.
Many people will avoid going to college because they think it’s too costly and they don’t want to get college loans. However, new legislation is making even student loans more affordable, so anyone that gets a Pell Grant that may not pay for the entirety of their college education can get an affordable student loan as well.
Education is very important no matter what anyone wants to do in life. With expanded Pell Grant programs, affordable student loans, and loan forgiveness options, there is no reason to avoid getting your education.