Word: pelle
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Dates: during 2000-2009
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...cause for conservative celebration last week, when Congressional Republicans green-lighted a set of new guidelines over at the Department of Education that will reduce Pell Grants for an estimated 1.2 million college students and cut 90,000 out of the program altogether. Every year the government disburses 4.5 million Pell Grants through the $12.4 billion program—grants that, unlike loans, don’t need to be repaid. The grants are administered according to a formula that takes into account variables meant to determine a student’s family’s discretionary income. Under...
Altogether, the new formula will save $300 million next year, enough to hurt thousands of struggling students but hardly a major step toward closing the growing deficit. Forget about Pell Grants—if Republican lawmakers want to save taxpayers some real money on student financial assistance, they should take a look at the pork that passes for our federal student loan program...
...year by the Center for American Progress estimates that cutting FFEL and administering all loans directly will save taxpayers a whopping $4.5 billion every year. That’s more than enough to cover the $300 million Republicans are so eager to cut from next year’s Pell Grants. And while they’re at it, Congress should use that windfall to raise the maximum Pell Grant up from the measly $4050 where it’s stagnated now for years. After adjusting for inflation, that’s $500 less than the maximum Pell Grant...
...Congress just threw students who need Pell Grants to afford a college education out into the cold,” said Corzine in a statement. Last year, Corzine wrote an amendment to an appropriations bill that suspended the formula from being used. Democrats attempted to add the same amendment to this year’s bill...
Donahue said that Pell Grant funding has not increased in the course of the past 10 years, and has not kept up with the increase in educational need...