I 
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 Representa-
tives 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 FED-
ERAL 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— 
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(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 deter-
mined under this subparagraph for pur-
poses 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 spec-
ified in the last enacted appropriation 
Act applicable to that year; and 
‘‘(III) rounded to the nearest 
$5.’’. 
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(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 max-
imum 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 deter-
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mined, then reduced by the amount specified as 
the maximum Federal Pell Grant in the last en-
acted 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 percent-
age’ 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 
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