To improve the Federal Pell Grant program, and for other purposes.

Pell Grant Protection Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to set the maximum Federal Pell Grant for which a student may be eligible for an award year at a specified amount, increased for inflation each year, plus any additional amount specified in the last enacted appropriation Act applicable to that award year. Appropriates for FY2015 and...