College to compensate for lost Pell Grants
Dartmouth College will pay more than $50,000 to bail out students who will lose portions of their Pell Grants in 2005-2006 because of changes in the way the federal government calculates need for its largest financial-aid program, which offers up to about $4,000 to five million students each year. Allowances for state taxes were lowered in the formula for determining grant eligibility, resulting in students losing an average of about $100 of grant funds.
