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            "text": "Pell Facts and Statistics [p26.3.1]",
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            "text": "The program is estimated to have provided over $36.5 billion to approximately 8.9 million undergraduate students in fiscal year (FY) 2010"
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            "text": "The maximum Pell Grant award for the 2011-12 award year (July 1, 2011 to June 30, 2012) is $5,550, the minimum is $555"
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            "text": "➢ Nearly 19.5 million students applied for Pell grants in 2009-10, up from 13.8 million in 2005-06"
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            "text": "The number of eligible Pell Grant applicants has increased from approximately 6.8 million in 2005-06 to nearly 11 million in 2009-10"
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            "text": "➢ Nearly 50 percent of Pell Grant recipients are over the age of 23 and, among older students, 84 percent have an annual income under $30,000."
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            "text": "52 percent of the student increase is concentrated in the lowest income categories of students."
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            "text": "In fiscal year 1976, the maximum Pell Grant was $1,400 and covered 72 percent of the cost of attendance at a typical four-year public college. In 2009-10, the maximum Pell Grant covered 36 percent of the cost of attendance at a typical four-year public college."
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            "text": "➢ Reasons for the growth in the Pell Grant program costs"
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                    "text": "Increase in the number of eligible students, which accounts for 40 percent of the program's growth ($7.7 billion). This is largely attributable to the economic downturn.",
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                    "text": "An increase in the maximum Pell award of $619, provide in the American Recovery and Reinvestment Act and the regular 2009 appropriation. This began in the 2009-10 academic year, adding 25 percent of the program growth ($4.8 billion).",
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                    "text": "The creation of the “two Pells” program in 2008, adding 22 percent in costs ($4.2 billion).",
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                    "text": "Changes in the need analysis formula, which increased program costs by 14 percent ($2.7 billion).",
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            "text": "[p26.14.1]Source: American Association of Colleges and Universities",
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