Even though five years overdue, Congress's recent passage of the bill to renew the Higher Education Act helps students and the public, but the changes are not revolutionary. Congress took a long time to work out negotiations on the bill and we think many of the changes are good, but the bill could still do more.
The maximum federal Pell Grant has been increased to $9,000 from a little less than $5,000. Pell Grant funding will also be available year-round, instead of only during the academic year. This will help students continue to receive federal funding during the summer so they can complete their degrees faster. The Pell Grant increase sounds incredible, but only keeps pace with the rising cost of tuition and room and board.
The bill has also increased colleges' reporting requirements. Now, colleges must report prices for tuition and fees to the Education Department. The department will publish annual lists of the top five percent of universities with the highest and lowest tuition and fees as well as those with the largest percentage increases in those areas.
Universities with the greatest cost increases must give an explanation of the increases and their plans for cost-reduction. We think more transparency is good for the public, but these provisions for greater reporting may prove to be the greatest cost to Kent State and the costs probably won't be offset by additional funding.
Textbook publishers will now have to report more information about prices and editions to faculty members.