Yesterday the U.S. Senate and House passed a long-term continuing resolution that will fund the federal government through the end of the current fiscal year. The House passed the resolution with a vote of 260-167 and the Senate passed the same legislation with a vote of 81-19.

The resolution prevented a shut-down of the federal government last week. Congress had previously passed a series of short-term resolutions in lieu of a consensus on a final spending package. The most recent short-term continuing resolution expired today.

The resolution will preserve the $5,550 maximum Pell Grant for the 2011-12 award year and delay elimination of second Pell awards until after this summer. The reductions in the resolution also affect others student financial aid programs, including the Federal Supplemental Educational Opportunity Grant (FSEOG) and federal work study for the 2011-12 academic year. 

Overall the resolution reduces state spending by $38.5 million from non-defense, discretionary FY10 spending levels.  The President is expected to sign the bill.