Obama Administration’s 2014 Education Budget Proposal Boosts Pell Grant, Seeks Interest Rate Changes - Higher Education: ...Rather than rely on a funding formula that some have called outdated, the administration is proposing a new framework that rewards colleges that enroll and graduate Pell-eligible students and keep tuition increases manageable.
Elsewhere, funding for historically Black colleges and universities and Hispanic-serving institutions would remain unchanged at $313 million and $221 million, respectively. Support for these programs also would continue at current levels:
n Tribal colleges: $55 million.
n Predominantly Black colleges and universities: $24 million.
n HBCU graduate institutions: $59 million.
n Alaska-Native and Native Hawaiian-serving institutions: $28 million.
n Asian American and Pacific Islander-serving colleges: $8 million.
College access programs such as TRIO and GEAR UP would continue at current levels, funded at $840 million and $302 million, respectively, the budget states.
