Approval today by the Pennsylvania Higher Education Assistance Agency board for additional funding to a state college grant program will increase the amount of financial support available to students by about $700 each.
State Sen. Vincent Hughes announced the decision today by the PHEAA board to contribute an additional $50 million to the Pennsylvania State Grant Program. That’s in addition to the $15 million the agency receives every year for the grant program.
The extra $50 million will be combined with the $380.9 million in appropriated funds for the 2011-12 academic year to create a maximum award level of $4,309 per student. PHEAA will recalculate the awards once the state budget is passed.