Creating Higher Education Affordability Necessary to Compete Economically Act or the Middle Class CHANCE Act - Amends the Higher Education Act of 1965 to increase the maximum Federal Pell Grant for award year 2014-2015 and adjust it each subsequent award year to account for changes in the Consumer Price Index.
Directs the Secretary of Education to award an additional Pell Grant to an eligible student who: (1) has received a Pell Grant for an award year, and (2) is enrolled in a program of study for one or more additional payment periods during the same award year that are not otherwise covered by the Pell Grant.
Limits the total amount of the Pell Grants awarded to such student for the award year to 150% of the maximum Pell Grant for such award year.
Raises, from 12 semesters to 15 semesters, the period during which a student may receive Federal Pell Grants.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2374 Introduced in Senate (IS)]
113th CONGRESS
2d Session
S. 2374
To improve college affordability.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 21, 2014
Ms. Landrieu (for herself and Ms. Hirono) introduced the following
bill; which was read twice and referred to the Committee on Health,
Education, Labor, and Pensions
_______________________________________________________________________
A BILL
To improve college affordability.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Creating Higher Education
Affordability Necessary to Compete Economically Act'' or the ``Middle
Class CHANCE Act''.
SEC. 2. INCREASE IN THE MAXIMUM AMOUNT OF A FEDERAL PELL GRANT.
Section 401(b)(7)(C) of the Higher Education Act of 1965 (20 U.S.C.
1070a(b)(7)(C)) is amended by striking clauses (ii) and (iii) and
inserting the following:
``(ii) Award year 2014-2015.--For award
year 2014-2015, the amount determined under
this subparagraph for purposes of subparagraph
(B)(iii) shall be increased to $4,040.
``(iii) Subsequent award years.--For award
year 2015-2016 and each subsequent award year,
the amount determined under this subparagraph
for purposes of subparagraph (B)(iii) shall be
equal to--
``(I) the amount determined under
this subparagraph for the preceding
award year; increased by
``(II) a percentage equal to the
annual adjustment percentage for the
award year for which the amount under
this subparagraph is being determined;
and
``(III) rounded to the nearest
$5.''.
SEC. 3. YEAR-ROUND FEDERAL PELL GRANT STUDENTS.
(a) In General.--Section 401(b) of the Higher Education Act of 1965
(20 U.S.C. 1070a(b)) is amended by adding at the end the following:
``(8) Year-Round Federal Pell Grant Students.--
``(A) In general.--Notwithstanding any other provision of
this subsection, the Secretary shall award, to an eligible
student who meets the requirements in subparagraph (B) who has
received a Federal Pell Grant for an award year and is enrolled
in a program of study for 1 or more additional payment periods
during the same award year that are not otherwise covered by
the student's Federal Pell Grant, an additional Federal Pell
Grant for the additional payment periods.
``(B) Eligibility.--In order to be eligible to receive the
additional Federal Pell Grant for an award year that is
described in subparagraph (A), a student shall, in addition to
meeting all eligibility requirements for the receipt of a
Federal Pell Grant--
``(i) be enrolled full-time in an institution of
higher education; and
``(ii) have successfully completed at least a full-
time course load (as determined by the institution)
prior to receiving an additional Federal Pell Grant
award as described in subparagraph (A).
``(C) Amounts.--In the case of a student receiving more
than one Federal Pell Grant in a single award year under
subparagraph (A), the total amount of the Federal Pell Grants
awarded to such student for the award year shall not exceed an
amount equal to 150 percent of the total maximum Federal Pell
Grant for such award year calculated in accordance with
paragraph (7)(C)(iv)(II).
``(D) Inclusion in duration limit.--Any period of study
covered by a Federal Pell Grant awarded under subparagraph (A)
shall be included in determining a student's duration limit
under subsection (c)(5).
``(9) Crossover Period.--In any case where an eligible student is
receiving a Federal Pell Grant for a payment period that spans 2 award
years, the Secretary shall allow the eligible institution in which the
student is enrolled to determine the award year to which the additional
period shall be assigned.''.
(b) Effective Date.--The amendment made by subsection (a) shall
take effect on July 1, 2014.
SEC. 4. PELL GRANT DURATION LIMIT.
Section 401(c)(5) of the Higher Education Act of 1965 (20 U.S.C.
1070a(c)(5)) is amended by striking ``12 semesters'' and inserting ``15
semesters'' each place the term appears.
<all>
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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