[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7488 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 7488

    To increase the total maximum Federal Pell Grant, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 29, 2024

  Mr. Carbajal (for himself and Mr. Schiff) introduced the following 
    bill; which was referred to the Committee on Education and the 
                               Workforce

_______________________________________________________________________

                                 A BILL


 
    To increase the total maximum Federal Pell Grant, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Degrees Not Debt Act of 2024''.

SEC. 2. INCREASE IN THE MAXIMUM AMOUNT OF A FEDERAL PELL GRANT.

    (a) Award Year 2024-2025.--Section 401(b)(7)(C) of the Higher 
Education Act of 1965 (20 U.S.C. 1070a(b)(7)(C)) is amended--
            (1) in clause (i)(I), by striking ``clause (iv)(II)'' and 
        inserting ``clause (v)(II)'';
            (2) in clause (ii)(I), by striking ``clause (iv)(II)'' and 
        inserting ``clause (v)(II)'';
            (3) in clause (iii)--
                    (A) in the header, by inserting ``through award 
                year 2023-2024'' before the period; and
                    (B) by inserting ``through award year 2023-2024'' 
                after ``subsequent award year'';
            (4) by redesignating clause (iv) as clause (v); and
            (5) by inserting after clause (iii) the following:
                            ``(iv) Award year 2024-2025.--For award 
                        year 2024-2025, the amount determined under 
                        this subparagraph for purposes of subparagraph 
                        (B)(iii) shall be equal to--
                                    ``(I) $14,800; reduced by
                                    ``(II) the maximum Federal Pell 
                                Grant for which a student was eligible 
                                for the preceding award year, as 
                                specified in the last enacted 
                                appropriation Act applicable to that 
                                year; and
                                    ``(III) rounded to the nearest 
                                $5.''.
    (b) Award Year 2025-2026 and Subsequent Award Years.--
            (1) Amendment to award amount.--Section 401(b)(5)(A) of the 
        Higher Education Act of 1965 (20 U.S.C. 1070a(b)(5)(A)), as 
        amended by section 703 of the FAFSA Simplification Act (title 
        VII of division FF of Public Law 116-260) and section 
        102(b)(1)(A) of the FAFSA Simplification Act Technical 
        Corrections Act (division R of Public Law 117-103), is amended 
        to read as follows:
                    ``(A)(i) Award years 2024-2025 and 2025-2026.--For 
                award years 2024-2025 and 2025-2026, the total maximum 
                Federal Pell Grant award per student shall be equal to 
                $14,800, reduced by the amount specified as the maximum 
                Federal Pell Grant in the last enacted appropriation 
                Act applicable to that award year.
                    ``(ii) Subsequent award years.--For award year 
                2026-2027, and each subsequent award year, the total 
                maximum Federal Pell Grant award per student shall be 
                equal to the amount that is equal to $14,800, increased 
                by a percentage equal to the annual adjustment 
                percentage for the award year for which the amount 
                under this subparagraph is being determined, then 
                reduced by the amount specified as the maximum Federal 
                Pell Grant in the last enacted appropriation Act 
                applicable to that award year.''.
            (2) Definition.--Section 401(a)(2) of the Higher Education 
        Act of 1965 (20 U.S.C. 1070a(a)(2)), as amended by section 703 
        of the FAFSA Simplification Act (title VII of division FF of 
        Public Law 116-260), is amended--
                    (A) in subparagraph (E), by striking ``and'' after 
                the semicolon;
                    (B) in subparagraph (F), by striking the period and 
                inserting ``; and''; and
                    (C) by adding at the end the following:
                    ``(G) the term `annual adjustment percentage' as 
                applied to an award year, is equal to the estimated 
                percentage change in the Consumer Price Index (as 
                determined by the Secretary, using the definition in 
                section 478(f)) for the most recent calendar year 
                ending prior to the beginning of that award year.''.
            (3) Effective date.--The amendments made by this subsection 
        shall take effect as if included in section 703 of the FAFSA 
        Simplification Act (title VII of division FF of Public Law 116-
        260) and in accordance with section 701(b) of such Act, as 
        amended by section 102(a) of the FAFSA Simplification Act 
        Technical Corrections Act (division R of Public Law 117-103) 
        (including the authorization provided under section 
        102(c)(1)(A) of such Act).
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