Chris Dodd: “I rise, and am joined by my colleagues Senator Mikulski, Senator Jeffords, Senator Murray, Senator Landrieu and Senator…”

“I rise, and am joined by my colleagues Senator Mikulski, Senator Jeffords, Senator Murray, Senator Landrieu and Senator Dayton, to introduce legislation to amend the Higher Education Act to improve access to higher education for low- and middle-income students by doubling the authorized maximum Pell Grant within six years. This bill has the strong support of the Student Aid Alliance, whose 60 organizations represent students, colleges, parents, and others who care about higher education. Pell Grants were established in the early 1970s by our former colleague, Claiborne Pell, of Rhode Island. They are the largest source of federal grant aid for college students. For millions of low- and middle-income students they are the difference between attending or not attending college. But, unfortunately, they don't make as much of a difference as they used to. In 1975, the maximum appropriated Pell Grant covered all of the average student's tuition, fees, room, and board at community colleges. It covered about 80 percent of those costs at public universities and about 40 percent at private universities. Today, Pell Grant's purchasing power has dropped by more than 30 percent at community colleges and been more than cut in half at universities. It covers only 38 percent of the costs at public universities and 15 percent at private universities. That's not just a drop, it's a free-fall.”