III 109th CONGRESS 1st Session S. RES. 8 IN THE SENATE OF THE UNITED STATES January 24, 2005 Ms. Collins (for herself, Mr. Feingold, and Mr. Coleman) submitted the following resolution; which was referred to the Committee on Health, Education, Labor, and Pensions RESOLUTION Expressing the sense of the Senate regarding the maximum amount of a Federal Pell Grant.

Whereas public investment in higher education yields a return of several dollars for each dollar invested; Whereas higher education promotes economic opportunity and recipients of bachelor's degrees earn 73 percent more in lifetime earnings than those with only a secondary school diploma and are also significantly less likely to be unemployed; Whereas access to a college education has become a hallmark of American society, and is vital to upholding our belief in equality of opportunity; Whereas for a generation, the Federal Pell Grant has served as an established and effective means of providing access to higher education; Whereas when viewed in constant dollars, the value of today's Pell Grant maximum award has actually declined by 16 percent since the mid 1970s; Whereas grant aid as a portion of student aid has fallen significantly in the past 30 years; Whereas in 1975, grant aid constituted approximately 80 percent of total student aid awarded to college students and loans constituted only 17 percent, now this has reversed with grants making up only 38 percent, and loans covering 56 percent of total student aid; and Whereas the increasing reliance on borrowing to finance a higher education is particularly burdensome on low-income families and has negative consequences for the enrollment of these students. Now, therefore, be it

That it is the sense of the Senate that— (1)the maximum Federal Pell Grant for which a student should be eligible during award year 2005–2006 should be $4,500; and (2)the authorized levels for the Federal Pell Grant maximum amount found in section 401 of the Higher Education Act of 1965 (20 U.S.C. 1070a) should be set high enough to accommodate a Federal Pell Grant amount of $9,000 by award year 2010–2011.