President Barack Obama, who has called for the U.S. to lead the world in college graduates by 2020, proposed budget cuts that would reduce support for higher education by $89 billion over 10 years… Pell grants give college students from low-income families as much as $5,550 per school year to pay tuition and other costs. Program costs skyrocketed over the past three years to about $35 billion from $15 billion in fiscal 2008 as eligibility widened and the economic crisis hurt families’ finances… The proposal is a signal that both Democrats and Republicans want to see the Pell grant program shrink, said Jarrel Price, an analyst with Height Analytics in Washington who studies the effect of government policy on for-profit colleges.

Read full article [here].
by John Lauerman, Bloomberg.

Posted: February 14th, 2011, by: admin. Categories: . Awaiting Comments.