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HR 7488 United States House · 118th Congress

Degrees Not Debt Act of 2024

The Degrees Not Debt Act of 2024 amends the Federal Pell Grant formula to increase the maximum award for the 2024-2025 and 2025-2026 academic years to $14,800, reduced by the previous year's maximum grant amount. Starting in 2026-2027, the maximum grant will be adjusted annually for inflation (using the Consumer Price Index) and then reduced by the prior year's maximum. This bill directly affects low-income undergraduate students who qualify for Pell Grants by raising the maximum award and tying future increases to inflation. The policy change updates the Higher Education Act of 1965 to modernize Pell Grant calculations.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill increases Pell Grant funding (federal spending) for low-income students, directly advancing government support for education through budget allocation.95% confidence ✓ EducationSupports EducationBill increases maximum Pell Grant award for low-income undergrads, directly enhancing higher education access and reducing financial barriers for students.90% confidence
Sub-Topics: Student Financial Aid Higher Education
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2024
Committee Review
Floor Vote
President
Introduced Feb 29, 2024 Last action Feb 29, 2024
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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Feb 29, 2024
House · Referred to committee
Referred to the House Committee on Education and the Workforce.
Feb 29, 2024
House · Introduced
Introduced in House
1 primary · 3 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Salud O. Carbajal
Salud O. Carbajal
DDemocratic
CA
24
Co
Photo of Adam B. Schiff
Adam B. Schiff
DDemocratic
CA
n/a
Co
Photo of Eleanor Holmes Norton
Eleanor Holmes Norton
DDemocratic
DC
At-Large
Co
Photo of Mike Levin
Mike Levin
DDemocratic
CA
49