II 110th CONGRESS 1st Session S. 899 IN THE SENATE OF THE UNITED STATES March 15, 2007 Mr. Dodd (for himself, Ms. Mikulski, Mrs. Murray, Mr. Sanders, Mr. Durbin, Mr. Lieberman, Ms. Cantwell, Mr. Akaka, and Mr. Levin) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To amend section 401(b)(2) of the Higher Education Act of 1965 regarding the Federal Pell Grant maximum amount.

1.

Federal Pell Grant maximum amount

Section 401(b)(2) of the Higher Education Act of 1965 (20 U.S.C. 1070a(b)(2)) is amended— (1)by redesignating subparagraph (B) as subparagraph (C); (2)by striking subparagraph (A) and inserting the following: (A)Except as provided in subparagraph (B), the amount of the Federal Pell Grant for a student eligible under this part shall be— (i)$7,600 for academic year 2007–2008; (ii)$8,600 for academic year 2008–2009; (iii)$9,600 for academic year 2009–2010; (iv)$10,600 for academic year 2010–2011; and (v)$11,600 for academic year 2011–2012, less an amount equal to the amount determined to be the expected family contribution with respect to that student for that year.; and (3)by inserting after subparagraph (A) (as amended by paragraph (2)) the following: (B)If the Secretary determines that the increase from one academic year to the next in the amount of the maximum Federal Pell Grant authorized under subparagraph (A) does not increase students’ purchasing power (relative to the cost of attendance at an institution of higher education) by not less than 5 percentage points, then the amount of the maximum Federal Pell Grant authorized under subparagraph (A) for the academic year for which the determination is made shall be increased by an amount sufficient to achieve such a 5 percentage point increase. .