College students may face the largest cut in financial aid in the history of the Federal Pell Grant Program. The Pell Grant is free money disbursed by the government to low-income undergraduate students to help pay for their tuition. Currently, students can receive up to $5,550 per year. Across America, nearly 9 million students take advantage of this program to help fund their education. Under Republican leadership, the proposal would effectively drop the grant to $4,705, a reduction of $845.
The budget cut could effectively end the college education for many low-income students. The money makes a huge difference for students juggling expenses for textbooks, child care, and rent. Since most Pell Grant recipients have an annual family household income of $20,000, many students may be forced to enroll in fewer courses or take out more student loans.
The Pell Grant is not the only higher education funding being affected by the legislation. Unfortunately, the proposal will eliminate the Supplemental Educational Opportunity Grant (SEOG), a program providing free money to students with exceptional financial need. All these funding cuts could reduce the number of low-income students receiving college degrees.
So, what can you do about the budget cuts? Here are a few tips:
You may receive less funding from the government, but you can earn scholarships from private organizations. Start searching and applying today to help you through these economic downturns.
The budget may be slashed in the future. However, you should still attempt to get the money that will be provided. Make sure you spend time filling out the FAFSA. Some money is better than no money.
3. Write Your Congressional Representatives.
How are you going to manage the federal budget cuts? Have any ideas? Tell us. We want to know! Leave us a comment.
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