http://www.boston.com/business/articles/2004/11/23/us_aid_for_college_students_slashed/Nearly a quarter of low- and moderate-income college students who currently qualify for federal Pell grants will see their awards reduced or eliminated under a change in federal rules that Congress allowed in its new spending bill passed over the weekend, according to an estimate from higher education analysts.
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About 85,000 of the 5.2 million students currently eligible to receive Pell grants will become ineligible. And 1.2 million others will get a smaller award under a new formula the government will use to determine how much families can afford to pay for college, according to estimates from the American Council on Education, or ACE. The change will take effect for students starting or returning to classes next summer or fall.
Higher education officials worry that the change, estimated to save the government about $300 million in next year's budget, will hurt students already struggling to pay for college.
''Nobody knows if the change will actually lead anybody to abandon their plans for postsecondary education," said Terry Hartle, senior vice president at ACE.
''The best-case scenario is that families will have to dig deeper to pay for college, perhaps by working more hours or taking out more loans."--------------------------------------------------------
Welcome to Bush world. :grr: :grr:
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