|
Pell Grant Historical Figures
This page provides historical figures relating to the Pell
Grant. Inflation figures are based on the June Consumer Price Index of
each year (June 1973 constant dollars).
Although the Pell Grant began in 1973-74, all undergraduate students
first became eligible in 1976-77.
In 2003-04, 97.7% of Pell Grant recipients had a family AGI of less
than $50,000.
|
Maximum Pell Grant |
|
|
|
Maximum Pell Grant Adjusted for Inflation |
Award Year |
Appropriated |
Authorized |
Average Pell Grant |
Number of Recipients |
Total Funding |
CPI-U |
Tuition Inflation |
1973-74 |
$452 |
$1,400 |
$270 |
176,000 |
$47,520,000 |
$452 |
$452 |
1974-75 |
$1,050 |
$1,400 |
$628 |
567,000 |
$356,076,000 |
$947 |
$991 |
1975-76 |
$1,400 |
$1,400 |
$761 |
1,217,000 |
$926,137,000 |
$1,154 |
$1,233 |
1976-77 |
$1,400 |
$1,400 |
$759 |
1,944,000 |
$1,475,496,000 |
$1,089 |
$1,128 |
1977-78 |
$1,400 |
$1,800 |
$758 |
2,011,000 |
$1,524,338,000 |
$1,019 |
$1,044 |
1978-79 |
$1,600 |
$1,800 |
$814 |
1,893,000 |
$1,540,902,000 |
$1,085 |
$1,111 |
1979-80 |
$1,800 |
$1,800 |
$929 |
2,537,875 |
$2,357,685,875 |
$1,100 |
$1,146 |
1980-81 |
$1,750 |
$1,800 |
$882 |
2,707,932 |
$2,388,396,024 |
$935 |
$995 |
1981-82 |
$1,670 |
$1,900 |
$849 |
2,709,076 |
$2,300,005,524 |
$815 |
$833 |
1982-83 |
$1,800 |
$2,100 |
$959 |
2,522,746 |
$2,419,313,414 |
$820 |
$785 |
1983-84 |
$1,800 |
$2,300 |
$1,014 |
2,758,906 |
$2,797,530,684 |
$800 |
$715 |
1984-85 |
$1,900 |
$2,500 |
$1,111 |
2,747,100 |
$3,052,028,100 |
$810 |
$699 |
1985-86 |
$2,100 |
$2,600 |
$1,279 |
2,813,489 |
$3,598,452,431 |
$863 |
$714 |
1986-87 |
$2,100 |
$2,600 |
$1,301 |
2,659,507 |
$3,460,018,607 |
$848 |
$661 |
1987-88 |
$2,100 |
$2,300 |
$1,303 |
2,881,547 |
$3,754,655,741 |
$818 |
$616 |
1988-89 |
$2,200 |
$2,500 |
$1,399 |
3,198,286 |
$4,474,402,114 |
$824 |
$598 |
1989-90 |
$2,300 |
$2,700 |
$1,438 |
3,322,151 |
$4,777,253,138 |
$819 |
$576 |
1990-91 |
$2,300 |
$2,900 |
$1,449 |
3,404,810 |
$4,933,569,690 |
$783 |
$534 |
1991-92 |
$2,400 |
$3,100 |
$1,530 |
3,786,230 |
$5,792,931,900 |
$780 |
$518 |
1992-93 |
$2,400 |
$3,100 |
$1,543 |
4,002,045 |
$6,175,155,435 |
$757 |
$489 |
1993-94 |
$2,300 |
$3,700 |
$1,506 |
3,755,675 |
$5,656,046,550 |
$704 |
$442 |
1994-95 |
$2,300 |
$3,900 |
$1,502 |
3,674,967 |
$5,519,800,434 |
$687 |
$420 |
1995-96 |
$2,340 |
$4,100 |
$1,515 |
3,611,821 |
$5,471,908,815 |
$678 |
$405 |
1996-97 |
$2,470 |
$4,300 |
$1,577 |
3,665,654 |
$5,780,736,358 |
$697 |
$407 |
1997-98 |
$2,700 |
$4,500 |
$1,696 |
3,732,807 |
$6,330,840,672 |
$744 |
$423 |
1998-99 |
$3,000 |
$4,500 |
$1,876 |
3,855,180 |
$7,232,317,680 |
$813 |
$447 |
1999-00 |
$3,125 |
$4,500 |
$1,933 |
3,808,269 |
$7,361,383,977 |
$831 |
$445 |
2000-01 |
$3,300 |
$4,800 |
$2,070 |
3,880,448 |
$8,032,527,360 |
$846 |
$447 |
2001-02 |
$3,750 |
$5,100 |
$2,376 |
4,341,000 |
$10,314,000,000 |
$931 |
$481 |
2002-03 |
$4,000 |
$5,400 |
$2,338 |
4,840,000 |
$11,314,000,000 |
$983 |
$485 |
2003-04 |
$4,050 |
$5,800 |
$2,467 |
5,141,000 |
$12,680,295,000 |
$974 |
$464 |
2004-05 |
$4,050 |
none specified |
$2,441 |
5,344,000 |
$13,042,280,000 |
$944 |
$437 |
2005-06 |
$4,050 |
none specified |
$2,486 |
5,468,000 |
$13,591,660,000 |
$920 |
$413 |
2006-07 |
$4,050 |
none specified |
$2,494 |
5,165,000 |
$12,880,787,000 |
|
|
2007-08 |
$4,310 |
none specified |
$2,620 |
5,339,000 |
$13,660,711,000 |
|
|
2008-09 |
$4,731 |
none specified |
$2,970 |
6,121,000 |
$16,256,000,000 |
|
|
2009-10 |
$5,350 |
none specified |
$3,646 |
7,738,000 |
$25,329,000,000 |
|
|
2010-11 |
$5,550 |
none specified |
$4,115 |
8,873,000 |
$32,905,000,000 |
|
|
2011-12 |
$5,550 |
none specified |
|
|
|
|
|
2012-13 |
$5,550 |
none specified |
|
|
|
|
|
2013-14 |
$5,635 |
none specified |
|
|
|
|
|
The College Cost Reduction and Access Act of 2007 established new
mandatory Pell Grant funding in addition to the existing discretionary
funding. Pell Grant eligibility remained pegged to the maximum Pell
Grant under the discretionary funding. The mandatory Pell Grant
funding was set sufficient to yield the following net increases in the
amount of the Pell Grant on top of the discretionary funding:
$490 2008-09
$490 2009-10
$690 2010-11
$690 2011-12
$1,090 2012-13
The Higher Education Opportunity Act of 2008 set the authorized
maximum Pell Grant (discretionary funding) as follows:
$6,000 2009-10
$6,400 2010-11
$6,800 2011-12
$7,200 2012-13
$7,600 2013-14
$8,000 2014-15
(Actual appropriations for the Pell Grant have historically provided
funding for a much lower maximum grant, typically $1,400 to $1,800
less since 1992-93, so the authorized maximums are largely symbolic.)
In addition the law changed the minimum Pell Grant from $400 to 10% of
the maximum Pell Grant as appropriated. The new eligibility cutoff is
equal to 95% of the maximum Pell Grant (discretionary funding).
The following chart shows the inflation-adjusted maximum Pell Grant,
with the blue line representing the CPI-U adjustments and the purple
line the tuition inflation adjustments.
|
|