Middle Class Education Equity Act

[AI summary unavailable — showing source text] Middle Class Education Equity Act - Amends the Higher Education Act of 1965, with respect to the Pell Grant program, to: (1) extend program authority; (2) eliminate a requirement for advance payment distribution to institutions; (3) increase the maximum award amount to $4,000 for academic year 1992-1993, with inflation adjustments thereafter; (4) increase the minimum award amount to $400; and (5) exclude the net value of the family's principal place of residence and a family farm on which the family resides from need analysis determinations under such program.…