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SoulMatrix

Bush about to Cut aid to College Students

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SoulMatrix

Bush plan to cut aid for college draws fire

Schumer: Middle class hit hardest

By Rahkia Nance

Press & Sun-Bulletin

For college students who depend on loans to pay for their education, proposed cuts to federal student loan programs could mean financial obstacles.

Mabiel Rodriguez estimated that she's taken out between $5,000 and $6,000 in loans. The Binghamton University sophomore has a Perkins loan - available to low- to middle-income families - and a Stafford loan, which is available to all students.

Under President George W. Bush's proposed 2007 budget, federal funding to the Perkins program would be eliminated. The budget also calls for a $4,050 limit on Pell grants, which are available to students from families that have an income of $70,000 or less. The grants do not have to be repaid.

"If they would take away the Perkins loan, I would be able to attend, but it would be a bigger hassle to attempt to get a job," said Rodriguez, a 19-year-old management student from New York City. "I would have to work to pay for school."

Proposed cuts in federal student loan programs could hit middle-class families the hardest, U.S. Sen. Charles E. Schumer, D-N.Y., said Wednesday during a conference call. In an effort to reduce the federal deficit, Congress passed a bill this month that included a 38 percent increase to interest rates on the Stafford loan. Beginning July 1, the interest rate will jump from 4.7 percent to 6.5 percent. For PLUS loans - taken out by parents of college students - interest rates will rise from 6.1 percent to 8.5 percent.

The proposed cuts and interest-rate increases send a message that federal priorities are not in line with America's needs, Schumer said.

"There are places where we ought to save money, but student loans aren't one of them," he said. "There's no greater need than better education."

The cuts would affect students at private and public institutions and community colleges, Schumer said, and could lead to fewer students choosing to go to college.

Schumer estimated that 8,827 students in the Southern Tier depend on Perkins loans to help finance their education. Of those, 1,180 are at BU and 32 are at Broome Community College, he said.

It's too early to tell what kind of impacts this could have at BU, said Dennis Chavez, director of financial aid.

Although the interest rate will increase, a fixed rate could be good news for students with loans, he said.

"We're always concerned with loan indebtedness," he said. "We've been able to keep loan debt reasonable (among students)."

The average total debt for a BU graduate is between $10,000 and $13,000, Chavez said.

"Any time there are changes made at any level of government that could have financial impact on the students, it is of concern," said BCC spokesman Rich David. "We strive to make community college as easy and as affordable as possible. We'll examine this to see if there's any means to minimize the impact to students."

The proposed cuts make it even more important for families to start saving for college as early as possible, said Brian Hazlett, senior associate director of admissions at BU.

"At 10th or 11th grade, it's really too late to have something to draw from," he said.

Wow. This is so effed up. Feel sry for the students who depend on loans and aid. Boy I wish that Bush would die so bad. He also says he wants another 72 billion dollars for the war in Iraq. WTF! More money going to waste.

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shikon1

bush dosent care about anyone but him and the rich folk

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joc

Schumer is a liberal democrat with an agenda. Nuff said.

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Dowdy

great way to get more people to the war in iraq - dumb everyone down so they join the army

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joc

So you are saying that only the dumb people join the army? :huh:

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Natael

If no education makes you dumb, and being dumb gives you no jobs, and no job means military service for a living...

Then yeah, I guess you're all going to be "dumb" soldiers.

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Dowdy

So you are saying that only the dumb people join the army? :huh:

didn't mean it literally.

i tried to join the army myself but MOST people who join havn't or can't go to uni/college - except if your going for officer

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joc

If no education makes you dumb, and being dumb gives you no jobs, and no job means military service for a living...

Then yeah, I guess you're all going to be "dumb" soldiers.

I would say there are thousands if not tens of thousands of soldiers who would tell you where to put that statement!

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Bella-Angelique

There is not any more money to expand the military either.

Everything including national security was tossed out to pay for tax cuts for the wealthy and to subsidize corporations to leave the country.

Bush will probably go down in history as an evil president who betrayed his nation.

Clinton will not get much better treatment than him.

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bathory
and to subsidize corporations to leave the country.

you do realise tax cuts to corporations are attempts to keep them in the country? Bush can' magically make these companies maintain manufacturing plants in the US especially when they can get it down in india etc

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Thanato

SoulMatrix quote your sources with links. Its the easiest way to validate your clames and see if it comes from a good website or not.

~Thanato

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Celumnaz

I don't need a source really... all I needed to see was

U.S. Sen. Charles E. Schumer, D-N.Y.
and it's pretty much a given we're not going to get the straight dope.

Of course with the way it's written it's going to sound "bad"... that's the whole point.

I remember college. Bumming off "friends" who had loans/grants. Lots of beer and drug money... "and it's free! from the govt.!" Ugh, and then after getting with my wife and having to pay off her loans....

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joc
Everything including national security was tossed out to pay for tax cuts for the wealthy and to subsidize corporations to leave the country.

Just more liberal talking points. It is truly the Democrat populace who has been dumbed down. Don't you people get it? The whole point of 'dumbing down' America is so that YOU wouldn't have a clue when you are being lied to by the Democrats. Perhaps you should take an Economics Class at your local university. There is no point in my trying to educate you...you must do it yourself....it ain't my job. :no:

Edited by joc

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artymoon

Education budget has continually risen every year.

The 'cuts' talked about are only cuts in proposed increases. The actual spending amount has never gone down.

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