- Category: News
29 Mar 2012
- Written by Tri-State Defender Newsroom
A deficit-slashing budget proposed by U.S. Rep. Paul Ryan (R-Wis.) is moving forward in the U.S. House of Representatives.
Special to the Tri-State Defender
A deficit-slashing budget proposed by U.S. Rep. Paul Ryan (R-Wis.) is moving forward in the U.S. House of Representatives. Last week, the Budget Committee voted to advance the FY 2013 budget blueprint released on March 20 by Chairman Ryan.
The proposal would make significant cuts to student aid. The Association of Community College Trustees said this week language in the budget calls for the following changes to student aid:
• Elimination of all mandatory funding for the Trade Adjustment Assistance Community College and Career Training Grant Program.
• Elimination of Pell eligibility for less-than-half-time students.
• Changes to Pell’s income protection allowance formula and lowering income thresholds for zero expected family contribution.
• A maximum income cap for Pell eligibility.
• Elimination of the automatic increases in the Pell maximum above $5,550.
• Allowance for interest rates on subsidized Stafford loans to double from 3.4 percent to 6.8 percent on July 1st.
• Elimination of in-school interest subsidies for undergraduate students.