To amend the Higher Education Act of 1965 to increase the amount of Pell Grants for needy students, and for other purposes.

[AI summary unavailable — showing source text] Amends the Higher Education Act to increase the maximum amount of an individual Pell Grant to $4,500 for academic year 1992-1993. Provides for inflation adjustments of such amount for subsequent academic years. Increases the maximum amount of the child care expense allowance for Pell Grant recipients, for purposes of determining their cost of attendance.…