; deficit reduction (a) In general Of the amount of net cost savings achieved by sections 2 and 3— (1) one half shall be used by the Secretary of Education to increase the maximum Federal Pell Grant under section 401 of the Higher Education Act of 1965 ( 20 U.S.C. 1070a ) by an equal amount for each of the 10 award years beginning after the date of the enactment of this Act; and (2) one half shall be used for the purpose of deficit reduction. (b) Treatment as mandatory spending The amounts provided under subsection (a)(1) shall be available without further appropriation. (c) Continuation of maximum amount Notwithstanding any other provision of law, the amount of the maximum Federal Pell Grant under section 401 of the Higher Education Act of 1965 ( 20 U.S.C. 1070a ) for each award year beginning after the expiration of the period described in subsection (a)(1) shall be not less than the maximum amount determined for the last award year in such period.