Congress Finalizes Student Aid Funding

Congress has finally completed the Fiscal Year 2024 funding bills. 

The final bills did not include the significant cuts proposed in financial aid programs proposed earlier in the process.

The House initially proposed to eliminate funding for the Supplemental Educational Opportunity Grant (SEOG) and Federal Work-Study (FWS) programs and $10 million in cuts were proposed to the same programs proposed by the Senate so level funding is a positive outcome in this case. 

Overall funding for the Department of Education is one percent lower than last year while the federal student aid programs were level funded. For student aid, the Pell Grant maximum for award year 2024-2025 will remain at $7,395, and funding for the SEOG remains at $910 million and FWS remains at $1.23 billion.

Finalizing funding for these three programs provided much needed information for financial aid offices that are also dealing with the chaotic FAFSA rollout. The TRIO, GEAR UP, and Graduate Assistance in Areas of National Need were also funded at last year’s levels.

For more information, email WAICU Executive Vice President for External Relations Rebecca Larson.