Short title

This Act may be cited as the

College Affordability and Accessibility Act

Increase in the maximum amount of a federal pell grant

(a)

Award year 2026–2027 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)), is amended to read as follows:

(A) (i)

Award years 2026–2027 and 2027– 2028

For award years 2026–2027 and 2027– 2028, 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 2028–2029, 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)) 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.

(b)

Effective date

The amendments made by subsection (a) shall take effect on July 1, 2026, and shall apply with respect to each award year (as defined in section 481 of the Higher Education Act of 1965 (20 U.S.C. 1088)) beginning on or after such date.

Extension in the period of eligibility for grants

Section 401 of the Higher Education Act of 1965 (20 U.S.C. 1070a) is amended— (1)in subsection (b)(8)(A), by inserting or as a postbaccalaureate student in accordance with sub-section (d)(1), after as an undergraduate,; (2)in subsection (d)— (A)by amending paragraph (1) to read as follows:

(1)The period during which a student may receive Federal Pell Grants shall be the period required for the completion of the first undergraduate baccalaureate course of study being pursued by that student at the institution at which the student is in attendance except that— (A)any period during which the student is enrolled in a noncredit or remedial course of study, as described in paragraph (2), shall not be counted for the purpose of this paragraph; and (B)the period during which a student may receive Federal Pell Grants shall also include the period required for the completion of the first postbaccalaureate course of study at an eligible institution that is an institution of higher education as defined in section 101, in a case in which— (i)the student received a Federal Pell Grant during the period required for the completion of the student’s first undergraduate baccalaureate course of study for at least 1 but fewer than 16 semesters, or the equivalent of at least 1 but fewer than 16 semesters, as determined under paragraph (5); (ii)the student would otherwise be eligible for a Federal Pell Grant, but for the completion of such baccalaureate course of study; and (iii)the period during which the student receives Federal Pell Grants does not exceed the student’s duration limits under paragraph (5);

; and

(B)in paragraph (5)(A), by striking 12 each place it appears and inserting 16.