Bill Clears Way for Government to Cut Back College Loans
The federal government will be able to require millions of college
students to shoulder more of the cost of their education under the new
spending bill approved yesterday by the House and Senate. The
government moved to change its formula for college aid last year, but
was blocked by Congress. Now, however, no such language appears in the
appropriations bill lawmakers are considering, clearing the way for the
government to scale back college grants for hundreds of thousands of
low-income students. Nearly 100,000 more students may lose their
federal grants entirely, as Congress considers legislation that could
place more of the financial burden for college on students and their
families. The cutback stems from a revision to the formula governing
virtually all of the nation's financial aid. Last year, the Department
of Education changed the formula on its own, angering members of
Congress who contended that it was a backdoor way of cutting education
spending without facing the public. The department retorted that it was
merely following the law.[more]and [more]
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