Blog

Browse All Blog Topics

Pell Grants, the Debt Ceiling and You

Aug 4, 2011

by Kara Coleman

Pell Grants, the Debt Ceiling and You

If you’re one of the more than nine million undergrads who depend on Pell Grants to pay for school, you have probably been pretty anxious over the past few weeks.

This past February, the United States House of Representatives passed a Continuing Resolution which would slice the federal budget drastically. One of the programs to be affected by the cut is the Pell Grant program. The maximum amount of funds available to college students would be lowered from $5,550 to $4,705 and the changes were set to take effect for the 2011-2012 academic year.

Students were able to breathe a sigh of relief when the Pell Grant program, which has long received bipartisan support from the Senate, was able to avoid major cuts after all. The debt-ceiling bill passed earlier this week will limit overall discretionary spending to $1.043 trillion in the 2012 fiscal year. Since that’s about $7 billion below the current level of spending, how will students be able to receive their maximum Pell Grants? Grad students will be the ones taking the hit. At the moment, graduate students with federally subsidized student loans don’t have to be concerned with interest until after graduation but under the new plan, interest on these loans will begin to accrue while they are still working towards their degrees.

National Economic Council director Gene Spurling says of the bill, “This is a compromise budget, but one that we believe makes the necessary room for the most important investments in winning the future in innovation and research and education.”

How do you feel about these changes? For those with dreams of advanced degrees, are you already researching alternate funding options for graduate school?

Kara Coleman lives in Gadsden, Alabama, where she attends Gadsden State Community College. She received the school’s Outstanding English Student Award two years in a row and is a member of Phi Theta Kappa. She plans to transfer to Jacksonville State University in August 2011 to study communications with concentration in print journalism. Kara’s writing has been featured in Teen Ink magazine and she is a children’s book author through Big Dif Books. In her spare time, Kara enjoys reading, painting, participating in community theater and pretty much any other form of art.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, 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


 

Most Shared Articles

Due to Oregon's $1.8 billion budget crisis, public university leaders want funding reallocated from the Promise program to the state's need-based grant, which is awarded to low-income students who attend Oregon's public universities. [...]

0 months ago 0 comments Read More

The traditional college route isn't the best choice for everyone. There are ample scholarship opportunities for students who opt for a vocational career, whether it be in the plumbing, carpentry, electrical, firefighting or many others. If you want to learn or hone a specific skill as an alternative to attending a more traditional four-year college, take some time to consider these vocational scholarship opportunities: [...]

0 months ago 0 comments Read More

Wheaton College, a liberal arts college in Massachusetts, has created a refugee scholarship following the POTUS' immigration order in an effort to preserve their "foreign-born community." Another scholarship called The Privilege Grant, was recently created and is exclusively for white men "pursuing college on equal footing with their female, queer and ethnic minority classmates." [...]

0 months ago 14 comments Read More

February is Black History Month, or National African-American History Month, and is annually spent celebrating the achievements and contributions of black Americans in U.S. history. MLK had a dream - what is yours? Ours is helping you go to college with as little debt as possible. If that's your dream, check out these Black History Month-inspired scholarships: [...]

0 months ago 1 comments Read More

Living the college life has gotten way more expensive since 1980, and not including just tuition and fees. While many types tuition freezes, government tuition-free programs, scholarships, and grants help foot the tuition bill, housing and food remain uncovered, according to MarketWatch. [...]

1 months ago 2 comments Read More

The NFL Super Bowl is right around the corner, and while you may be enjoying the highly entertaining commercials or half-time show, we’ve compiled a list of football scholarships for those of you who one day aspire to play in the Super Bowl. If you have a passion for the game and wish to play at the collegiate level and beyond, check out these award opportunities and get paid to play: [...]

1 months ago 0 comments Read More

At elite colleges, more students come from the top 1 percent than the entire bottom 60 percent, according to a new study. While roughly one in four of the wealthiest students attend elite schools, including five Ivy League schools, graduating college helps "level the playing field for students of all socioeconomic backgrounds," according to Inside Higher Ed. [...]

1 months ago 0 comments Read More

Not all scholarships are awarded to the best writers with the strongest essays. So whether you're too busy writing other essays for school or simply not the best at literary composition, there are scholarship providers that dole out funds for unique hobbies or skill sets; or even for simply entering a contest. Check out these no-essay (or essay-alternative) awards for a chance to fund your college education:: [...]

1 months ago 3 comments Read More

Prospective Rhode Island college students may score two years of free college with Governor Gina M. Raimondo's $30 million plan, Rhode Island's Promise. Beginning with the class of 2017, the plan would foot full tuition bills and mandatory fees, according to Inside Higher Ed. [...]

1 months ago 0 comments Read More