This legislation, titled the "Degrees Not Debt Act of 2025," aims to significantly increase the total maximum Federal Pell Grant for students. For the 2026-2027 and 2027-2028 award years, the bill sets the maximum grant at $14,800 , which will be reduced by the amount specified in the last enacted appropriation Act. Starting in the 2028-2029 award year, this $14,800 base amount will be further increased annually by a percentage equal to the estimated change in the Consumer Price Index (CPI) , ensuring the grant keeps pace with inflation. This inflation-adjusted amount will then also be reduced by the sum provided in the applicable appropriation Act. These provisions are scheduled to become effective on July 1, 2026, applying to all subsequent award years.