Debt-Ceiling Deal Spares Pell Grant Program

Aug 1, 2011

by Suada Kolovic

Debt-Ceiling Deal Spares Pell Grant Program

Unless you’ve taken residence under a rock for the past few weeks, you’ve heard about the debt ceiling crisis. Thankfully, the White House and Congress have reached a deal to raise the nation’s borrowing limit and shrink the federal deficit which avoids many of higher education’s worst-case scenarios, namely cuts to Pell Grants, the end of subsidized student loans or a government default that would leave student financial aid and other funding for colleges in limbo.

Here’s the breakdown: The agreement would cut $1 trillion right away and create a committee to reduce the deficit by another $1.5 trillion by November. If approved in Congress, it will avert default on the nation’s debts and ensure that the government has enough money for federal benefits, including student aid. In layman’s terms, the bill would provide $17 billion for the Pell Grant program but the measure would only be temporary. Because House conservatives oppose tax increases, it is likely that the committee charged with reducing the deficit will favor spending cuts over revenues increase, putting Pell Grants and other student aid programs at risk for cuts in the near future.

Do you think slashing funds for higher education is problematic? Let us know what you think.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

Discuss

Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



If you can read this, don't touch the following fields


 
Comments (0)

Most Shared Articles

The mantle of "College President" is one that includes a lot of responsibility and scrutiny, but for some in the higher ranks, the lucrative pay makes it worth it. According to data released by The Chronicle of Higher Education, some private-college presidents have made over $5.4 million in a single year. The average annual salary for full-time college/university presidents in 2014 was roughly [...]

0 months ago 1 comments Read More

Perhaps your 2017 New Year's Resolution is to earn more free college money - that's our goal for you! 2016 is now coming to an end, and so are these scholarship deadlines, so hurry and apply to these end-of-the-year awards while you still can! Girls Who Illustrate Awesomeness Scholarship [...]

0 months ago 6 comments Read More

The incoming Trump administration could reverse President Obama's actions on college sexual assault, giving hope to those who claim their lives were destroyed by false rape claims. However, this raises concerns for some that perhaps those who have been victims of sexual assault and made legitimate reports may not get the protection they deserve. Since 2011, colleges and universities have been [...]

1 months ago 5 comments Read More

Students are being called to "expose and document" professors "who discriminate against conservative students, promote anti-American values, and advance leftist propaganda" on a new website called Professor Watchlist. Turning Point USA, a 501(c)3 non-profit organization founded in 2012 promotes ideas of free-market capitalism and "educates students about the importance of fiscal [...]

1 months ago 7 comments Read More

Finding trustworthy and accurate scholarship and other financial aid information can be tricky these days, especially when it comes to sources that offer unreliable, often misleading content. "Scholarships" offered by scammers who charge fees and operate outside the laws, rules and ethics of modern-day netiquette abound. Here at Scholarships.com, we carefully and thoroughly vet [...]

1 months ago 0 comments Read More

American Flags designated for a Veterans Day ceremony at Brown University were torn and trashed by university students. While a group tried to protect remaining flags, others continued what they believe was a "justified" protest against the recent presidential election. The American flags arranged on Brown University's Main Green flew in honor of the annual Veteran's Day ceremony, which made [...]

1 months ago 16 comments Read More

Black Friday deals will be unleashed in just two weeks with some of the largest retailers getting an early start on Thanksgiving Day. When it comes to end-of-the-year scholarship hunting, no worries - we've got you covered. Score big this holiday season (and semester) with free college money: RMA Foundation [...]

1 months ago 0 comments Read More

The Associate Dean featured as the "chief villain" in a discredited Rolling Stone article on an alleged gang rape at the University of Virginia has been awarded $3 million by a federal court jury. This decision followed an earlier ruling that the discredited article ruined her reputation and "undermined her work to help students who had been sexually assaulted." In November 2014, Rolling Stone [...]

1 months ago 6 comments Read More

November is National Scholarship Month and in its honor, we're doing what we do best - offering the best scholarships out there to help students like you fund the cost of college. Whether you're in high school trying to land some free money before heading off to school or a college student looking to pay next semester's tuition, here are some of the few generous scholarships available to [...]

1 months ago 0 comments Read More