Year-Round Pell Grant Restoration Act

To improve the Federal Pell Grant program, and for other purposes. 1. Short title This Act may be cited as the Year-Round Pell Grant Restoration Act 2. Findings Congress finds the following: (1) The Congressional Budget Office reports on any overall financial surplus or shortfall in the funding provided for the Federal Pell Grant program. However, in recent years, in order to meet the maximum Federal Pell Grant level with the provided level of funding, Congress has made cuts to the program through imposing additional eligibility requirements for Federal Pell Grants and limiting the availability of year-round Federal Pell Grants, causing significant uncertainty and reducing access to higher education for millions of hardworking college students. (2) The traditional student (3) Section 1860 of the Department of Defense and Full-Year Continuing Appropriations Act, 2011 ( Public Law 112–10 20 U.S.C. 1070a et seq. 3. Year-Round Federal Pell Grant students (a) In general Section 401(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1070a(b) (8) (A) In this paragraph, the term eligible student (i) has received a Federal Pell Grant for an award year and is enrolled in an eligible program for one or more additional payment periods during the same award year that are not otherwise fully covered by the student's Federal Pell Grant; (ii) continues to meets all eligibility requirements to receive a Federal Pell Grant under this section; and (iii) attends an institution of higher education on average, not less than a half-time basis. (B) Notwithstanding any other provision of this subsection, the Secretary shall award an additional Federal Pell Grant to an eligible student for the additional payment periods during an award year that are not otherwise fully covered by the student's Federal Pell Grant for the award year. (C) In the case of a student receiving more than one Federal Pell Grant in a single award year under subparagraph (B), the total amount of the Federal Pell Grants awarded to such student for the award year shall not exceed an amount equal to 150 percent of the total maximum Federal Pell Grant for such award year calculated in accordance with paragraph (2). (D) Any period of study covered by a Federal Pell Grant awarded under subparagraph (B) shall be included in determining a student's duration limit under subsection (c)(5). (9) In any case where an eligible student is receiving a Federal Pell Grant for a payment period that spans two award years, the Secretary shall allow the eligible institution in which the student is enrolled to determine the award year to which the additional period shall be assigned. . (b) Effective date The amendment made by subsection (a) shall take effect on July 1, 2015.

Summary: Year-Round Pell Grant Restoration Act This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to require the Department of Education to award an additional Pell Grant to a student who has received a Pell Grant for an award year and is enrolled in a program of study for payment periods during the same award year that are not covered by the Pell Grant. The total amount of the Pell Grants awarded to such a student for the award year may exceed the total maximum Pell Grant.