College Affordability and Accessibility Act

This bill aims to enhance financial aid for higher education by significantly increasing the Federal Pell Grant and expanding its eligibility. It proposes to raise the total maximum Federal Pell Grant to $14,800 for the 2026-2027 and 2027-2028 award years. For subsequent years, starting in 2028-2029, this maximum amount will be further adjusted annually based on the Consumer Price Index (CPI), ensuring the grant keeps pace with inflation.

Beyond increasing the grant amount, the legislation also extends the period of eligibility for Federal Pell Grants. It changes the maximum duration for receiving Pell Grants from 12 semesters to 16 semesters, or their equivalent. Furthermore, the bill introduces a provision allowing certain students pursuing a first postbaccalaureate course of study to receive Pell Grants, provided they met specific undergraduate Pell Grant usage criteria and remain within the new 16-semester duration limit. These changes are designed to make higher education more affordable and accessible for a broader range of students.