American Recovery and Reinvestment Act of 2009 (Stimulus Package)

This legislation recently signed into law by President Obama and intended to stimulate the economy has the following impact on financial aid:

  • The maximum Federal Pell Grant was increased to $5,350. This is an increase over 2008-09 by $619 which also includes an increase from the College Cost Reduction and Access Act (CCRAA). The maximum eligible Expected Family Contribution (EFC) derived from the FAFSA for Pell Grant eligibility is $4,617.

  • An additional $200 million was allocated to support the Federal College Work Study program. Any additional allocation for Shepherd University will be awarded as part of our final funding allocation in April.

    http://www.shepherd.edu/faoweb/

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