Sec. 20031. Increasing the maximum Federal Pell grant
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Section 401(b)(7) of the Higher Education Act of 1965 ( 20 U.S.C. 1070a(b)(7) ) is amended— in subparagraph (A)(iii), by inserting and such sums as may be necessary for fiscal year 2022 to carry out the $500 increase provided under subparagraph (C)(iii) before ; and ; and in subparagraph (C)(iii), by inserting before the period at the end the following: , except that, for award year 2022–2023, such amount shall be increased by $500 . Section 401(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1070a(b) ), as amended by section 703 of the FAFSA Simplification Act (title VII of division FF of Public Law 116–260 ), is amended— in paragraph (5)(A)— in clause (i), by striking and after the semicolon; by redesignating clause
(ii)as clause (iii); and by inserting after clause
(i)the following: for each of award years 2023–2024 through 2029–2030, an additional $500; and ; and in paragraph (6)(A)— in clause (i)— by striking appropriated) such and inserting the following: appropriated)— such ; and by adding at the end the following: such sums as are necessary to carry out paragraph (5)(A)(ii) for each of fiscal years 2023 through 2029; and ; and in clause (ii), by striking (5)(A)(ii) and inserting (5)(A)(iii) . The amendments made by paragraph
(1)shall take effect as if included in section 703 of the FAFSA Simplification Act (title VII of division FF of Public Law 116–260 ) and in accordance with section 701(b) of such Act.
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