Supplemental Federal Pell Grant Program

Section 401(b) of the Higher Education Act of 1965 (20 U.S.C. 1070a(b)) is amended by adding at the end the following: (10) Supplemental Pell Grants using excess Trust fund amounts For any award year for which the Secretary elects to use the excess amounts (or a portion of such excess amounts) described in section 494A(c) to carry out a Supplemental Pell Grant Program under this paragraph, the Secretary shall— (A) award each student that receives a Federal Pell grant under this subpart for such award year, an additional Federal Pell Grant in an amount that— (i) bears the same relationship to such excess amount (or such portion) as the amount of the Federal Pell Grant such student receives under this subpart (excluding this paragraph) for such award year bears to the total amount awarded in Federal Pell Grants under this subpart (excluding this paragraph) for such award year; and (ii) may— (I) exceed the total maximum Federal Pell Grant available for such award year; and (II) be lower than the minimum Federal Pell Grant (as defined in section (a)(2)(F)) for such award year; and (B) ensure that— (i) in the case of a student awarded an additional Federal Pell Grant under subparagraph (A) for an award year, the total amount of Federal Pell Grants awarded to such student under this subpart (including such additional Federal Pell Grant) for such award year may exceed the total maximum Federal Pell Grant available for such award year; and (ii) any period of study covered by an additional Federal Pell Grant awarded under subparagraph (A) shall not be included in determining a student’s duration limit under subsection (d)(5)..