Brittany Scales, freshman in Business, has been working since she was 14 to help her single mom pay for college.

“The price of school is a bit outrageous,” Scales said.

But next year, Scales and other students nationwide may see some extra funds sent their way. Congress approved the College Cost Reduction and Access Act of 2007, which is awaiting President Bush’s signature. If signed, it would increase the maximum Pell Grant a student can receive from $4,310 to $5,400 by 2012.

“It’s a good step in the right direction,” said Scales, who received a Pell Grant for this school year.

According to the U.S. Department of Education Web site, the amount of money students receive in Pell Grants depends on the student’s expected family contribution based on the student’s Free Application for Student Financial Aid, the cost of attendance, whether the student is enrolled full time or part time, and whether the student plans to attend school for a full academic year.

“The Pell Grant is the primary federal student aid program and is the logical federal program to address (rising college costs),” said Dan Mann, University financial aid director.

Scales said that about 65 percent of her college expenses were covered by the government. She paid the difference by working, receiving monetary family support and scholarships.

To pay for the increase in grant funding, the bill reduces federal subsidies to lenders by approximately $20 billion over the same period. Subsidies are funds given to lenders to encourage them to enter the Federal Family Education Loan Program, a program designed to offer federally backed loans through private lenders, Mann said.

“There have been reductions in the past, but not as significant as this one,” Mann said.

In addition to increasing Pell Grant funding, the bill will also adjust the maximum Estimated Family Contribution a student can have in order to receive a Pell Grant from $4,110 to $4,600. Mann said this will increase the number of students eligible for a Pell Grant.

The legislation also would cut interest rates for poor and middle-class students from 6.8 percent to 3.4 percent over the next four years, offer income-based repayment for federal loans and extend the zero Estimated Family Contribution range.

The bill was originally introduced in June. In July, President Bush threatened the version of the bill approved by the U.S. House and criticized the Senate’s version, according to the Chronicle of Higher Education. The House and Senate then created a revised bill.

“Fortunately for us, it had all the big things we wanted to see,” Mann said. “There were no surprises.”