As reported by the House Committee on Education and the Workforce on December 22, 2023
By Fiscal Year, Millions of Dollars
2024
2024-2028
2024-2033
Direct Spending (Outlays)
-34
-760
-1,736
Revenues
0
0
0
Increase or Decrease (-) in the Deficit
-34
-760
-1,736
Spending Subject to Appropriation (Outlays)
0
480
1,447
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2034?
No
Statutory pay-as-you-go procedures apply?
Yes
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2034?
No
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
The bill would
Prohibit institutions of higher education subject to the endowment excise tax from offering most federal loans to students and parents
Expand eligibility for Pell grants to students enrolled in short-term job-training programs
Require short-term programs to meet certain criteria to participate in the Federal Pell Grant Program
Estimated budgetary effects would mainly stem from
Reducing the volume of federal student loans
Increasing the number of students that receive Pell grants
Authorizing the appropriation of funds to implement the expansion of the Pell grant program
Areas of significant uncertainty include
Predicting institutional and student responses to the prohibition on lending by institutions that are subject to the endowment tax
Projecting the number of programs that would newly participate in the Pell grant program and the number of students that would newly receive Pell grants
