This is the sixth in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.
Pell Grant over/under payments are caused mainly by application of an incorrect Pell Grant formula, overall incorrect calculations, and errors connected to changes in enrollment status.
According to the Higher Education Act of 1965, Title IV, Part A, Subpart 1, the Federal Pell Grant program is designed to help ensure access to postsecondary education for low and moderate income undergraduate students by providing grants that help meet postsecondary education costs.
According to a White House report in January 2014, titled “Increasing College Opportunity for Low-Income Students,” overall gains in U.S. college attainment have declined while other countries have continued to increase their share of citizens that complete college.
The Federal government has taken some action over the years to help keep college affordable for students and families. One of the steps taken includes increasing the maximum Pell Grant award from year to year, which expanded Pell Grant access to millions of students since 2008.