Pell Grant Funding Act

Bill: 114-hr-939
Sponsor: full_name: Rep. Kind, Ron [D-WI-3]
Introduced: 2015-02-12
Policy area: Education
Subjects: Education programs funding

Government lending and loan guarantees

Higher education

Student aid and college costs
Latest action: action_date: 2015-04-29
text: Referred to the Subcommittee on Higher Education and Workforce Training.

Summaries:
action_date: 2015-02-12
action_desc: Introduced in House
text: <p><strong>Pell Grant Funding Act</strong></p> <p>Directs the Secretary of Education to use any excess revenue generated by the William D. Ford Federal Direct Loan program during a fiscal year to carry out the Federal Pell Grant program in the next fiscal year. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 939 IN THE HOUSE OF REPRESENTATIVES February 12, 2015 Mr. Kind introduced the following bill; which was referred to the Committee on Education and the Workforce A BILL To require the Secretary of Education to use the excess revenue generated from the William D. Ford Federal Direct Loan Program to carry out the Federal Pell Grant Program.

1. Short title This Act may be cited as the Pell Grant Funding Act . 2. Applying excess revenue to Federal Pell Grants The Secretary of Education shall— (1) as soon as practicable after the end of a fiscal year, determine whether during such fiscal year the William D. Ford Federal Direct Loan Program under part D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq. ) generated any revenue in excess of the amount that was necessary to cover the costs of carrying out such Program for such fiscal year; and (2) if such excess revenue was generated, use such excess revenue to carry out the Federal Pell Grant Program under subpart 1 of part A of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070a ) for the succeeding fiscal year.