2008 Woodie Awards
Congress mulls student aid changes this week
By: Michelle Oyola
Issue date: 11/17/05 Section: News
- Page 1 of 2 next >
Students who get federal financial aid loans may find the process for obtaining those loans has changed when they go to apply for financial aid next year.
The U.S. House of Representatives will vote on a budget-cutting bill sometime the week of Nov. 12. In addition to making cuts in programs like Medicaid, Medicare and food stamps, this bill proposes a $14.5 billion cut in student loans from 2006 to 2010, and a $7.5 billion cut in 2006 alone.
During a telenews conference Nov. 10, Rep. Russ Carnahan, D-Mo., expressed his confusion about the cuts.
"The idea of cuts at this time is so backward I don't even know where to start," Carnahan said.
The conference was held hours before the bill was scheduled to go up for vote Nov. 10, but House republican leaders called the vote off. A bare majority is needed to pass the $50 billion in cuts and policy changes and the republicans are scheduled to try for that majority again the week of Nov. 12. Jonathan Gruett, Webster's director of financial aid, said the republicans probably didn't have enough votes for the bill to pass the first time.
Carnahan said the cuts will harm students on a narrow and broad level. First, he said the cuts would affect which students would have access to aid, which may stop or delay students from going to college. On an international scale, he said the United States is already behind in math and science, and this country should be investing more in education in order to produce students who are more competitive in the world market.
What the Bill Could Mean Here
Gruett said the financial aid office processed about $100 million in student loans last year. The vast majority of these loans were taken out by graduate students, since they are not eligible for Pell Grants or many scholarships. Although students should always be concerned about borrowing, Gruett said this bill will not have much of a negative effect. The policy changes may be advantageous in some ways, he added.
The U.S. House of Representatives will vote on a budget-cutting bill sometime the week of Nov. 12. In addition to making cuts in programs like Medicaid, Medicare and food stamps, this bill proposes a $14.5 billion cut in student loans from 2006 to 2010, and a $7.5 billion cut in 2006 alone.
During a telenews conference Nov. 10, Rep. Russ Carnahan, D-Mo., expressed his confusion about the cuts.
"The idea of cuts at this time is so backward I don't even know where to start," Carnahan said.
The conference was held hours before the bill was scheduled to go up for vote Nov. 10, but House republican leaders called the vote off. A bare majority is needed to pass the $50 billion in cuts and policy changes and the republicans are scheduled to try for that majority again the week of Nov. 12. Jonathan Gruett, Webster's director of financial aid, said the republicans probably didn't have enough votes for the bill to pass the first time.
Carnahan said the cuts will harm students on a narrow and broad level. First, he said the cuts would affect which students would have access to aid, which may stop or delay students from going to college. On an international scale, he said the United States is already behind in math and science, and this country should be investing more in education in order to produce students who are more competitive in the world market.
What the Bill Could Mean Here
Gruett said the financial aid office processed about $100 million in student loans last year. The vast majority of these loans were taken out by graduate students, since they are not eligible for Pell Grants or many scholarships. Although students should always be concerned about borrowing, Gruett said this bill will not have much of a negative effect. The policy changes may be advantageous in some ways, he added.