Next year’s college students received some welcome news today that will help many of them cover the cost of pursuing a degree.
The Pennsylvania Higher Education Assistance Agency board at its meeting this morning approved a grant distribution formula for next year that anticipates increasing the maximum grant award to $4,363. That is up from this year’s $4,210.
That maximum award assumes the finalized state budget will include the $344 million that Gov. Tom Corbett’s recommended in his $28.4 billion budget proposal. That is the same amount that was included in this year’s state budget for the grant program.