; and (B) in paragraph (2)— (i) in the first sentence, by striking academic year after academic year 2007–2008 and inserting award year after award year 2020–2021 ; and (ii) in the second sentence, by striking shall be developed and all that follows through the period at the end and inserting shall be developed for each award year after award year 2020–2021, by increasing each of the dollar amounts contained in such section for award year 2020–2021 by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary for the most recent calendar year ending prior to the beginning of the award year for which the determination is being made), and rounding the result up to the nearest $10. ; and (2) in subsection (e)(1), by striking academic year and inserting award year . 3. Raising the total semesters of Federal Pell Grant eligibility Section 401(c)(5)(A) of the Higher Education Act of 1965 ( 20 U.S.C. 1070a(c)(5) ) is amended by striking 12 each place the term appears and inserting 14 .