Gov. Josh Shapiro's budget provides no additional funding for the state grant program while depending on the state's student financial aid agency to kick in more of its earnings to supplement this free tuition aid.
Pennsylvania Higher Education Assistance Agency President & CEO James Steeley is "hopeful" the state's maximum state grant award can be maintained at its current $5,750 level but questions the need for PHEAA to kick in more money to achieve that goal when the state is flush with cash. March 21, 2023 Screenshot from Pa.
House Republican Appropriations Committee Chairman Seth Grove of York County asked PHEAA’s president & CEO James Steeley if the agency will be able to meet that demand. But when the state was facing a financial crunch coming out of the Great Recession, the agency dipped into its reserves to help fund the state grant program. Over time, PHEAA has invested more than $1 billion of its earnings to supplement the state appropriations. This year, the agency supplemented the state appropriation for the grant program with $15 million, bringing available funding to more than $346 million.for the state grant program, representing an 11.9% increase from this year’s $331.
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