The Pennsylvania Higher Education Assistance Agency (PHEAA) announced that as a result of the passed commonwealth budget, the maximum Pennsylvania State Grant award will remain at $5,750.
Thanks to a 4.8% increase in funding for the PA State Grant Program and an agreed-upon Fiscal Code Bill that will authorize PHEAA to transfer funding from a decommissioned scholarship program, PHEAA is able to maintain the maximum grant award from the 2022-23 academic year – which was and remains the highest maximum award in the history of the grant program.
The recently passed state budget also provides level funding for all Pennsylvania aid programs administered by PHEAA for Pennsylvania, including the PA Targeted Industry Program (PA-TIP) and the PA Ready to Success Scholarship (RTSS) Program. PHEAA covers all administrative costs of the PA State Grant and other student aid programs for the commonwealth, in addition to self-funding the agency’s public awareness and outreach mission, saving taxpayers $21.9 million last year.
Each year, PHEAA’s board reevaluates the awarding formula by analyzing several factors, including tuition costs, the effect of inflation on family incomes, the number of expected applicants, and the governor’s recommended funding for the program as part of the budget proposal for the commonwealth.
Join our readers whose generous donations are making it possible for you to read our news coverage. Help keep local journalism alive and our community strong. Donate today.
