S.2471: Degrees Not Debt Act of 2019

The Degrees Not Debt Act (S.2471) would broaden the eligibility and increase the maximum benefit of Federal Pell Grants. Specifically, the bill would increase Pell Grants from $6,000 to $10,000 per academic year and lower the expected family contribution to $0 for families with an income under 250 percent of the federal poverty level. The bill also orders colleges and universities to prominently display critical indicators including the average salary of a graduate three years after graduation, the percentage of enrolled students with student loan debt, and the median time to degree completion. Additionally, the bill requires state governments to maintain or increase appropriations to their higher education institutions to receive new Pell Grant funding.

The bill would be paid for by repealing the increase of the Alternative Minimum Tax and Estate Tax exemptions made in the 2017 Tax Cuts and Jobs Act of 2017.

H.R. 4638 is the House companion bill