How to handle a major funding shortfall in the Pell Grant program is complicating an already difficult FY2027 funding season.
The Congressional Budget Office is projecting a $5.5 billion deficit for FY2026 and a total of $17.5 billion for FY2027 for the college aid program. Filling that hole will be very difficult, considering all the competing spending priorities in what will likely be a tight budget season.