Bill Clears Way for Government to Cut Back College Loans

[Ant]

Bill Clears Way for Government to Cut Back College Loans
By GREG WINTER and DIANA JEAN SCHEMO

The federal government will be able to require millions of college students to shoulder more of the cost of their education under the new spending bill approved yesterday by the House and Senate.

The government moved to change its formula for college aid last year, but was blocked by Congress. Now, however, no such language appears in the appropriations bill lawmakers are considering, clearing the way for the government to scale back college grants for hundreds of thousands of low-income students.

Nearly 100,000 more students may lose their federal grants entirely, as Congress considers legislation that could place more of the financial burden for college on students and their families.

The cutback stems from a revision to the formula governing virtually all of the nation's financial aid. Last year, the Department of Education changed the formula on its own, angering members of Congress who contended that it was a backdoor way of cutting education spending without facing the public. The department retorted that it was merely following the law.

In response, Congress passed legislation in the fall of 2003 to suspend the new formula for at least a year. The Senate put forward the same measure this year, and many members of the House said they also expected the new formula would wait at least until Congress updates the Higher Education Act, which will probably take the better part of the coming year.

But keeping the old formula in place for another year would add an extra $300 million in grants for college students to a program that is already running at a shortfall, the Office of Management and Budget said. So, the bill approved yesterday, brokered by Congressional leaders in a conference committee, eliminates a provision that would have barred the Education Department from changing the eligibility formula. A Senate staff member who spoke on the condition of anonymity said that the White House insisted the provision be dropped, citing the shortfall, and House Republicans were adamant in their agreement to do so.

http://www.nytimes.com/2004/11/21/education/21pell.html?ex=1258779600&en=0fe2224fdadf6f54&ei=5088&partner=altavista1

[*Jamal*]

Fuck

[Trauma-san]

Good! More tax cuts, and refund checks.  GO BUSH!!! WHOOOO!!!!

[Thirteen]

bush was only reelected less than 2 months ago and already i'm reaping the benefits of a $200 raise for going to college...looks like i pulled the right lever

[Trauma-san]

When I was voting, there were these two 18 year old white girls standing behind me, talking about who they were going to vote for, they no shit, voted for Bush because they didn't like the way Kerry looked, he spooked them out.  "ONLY IN AMERICA"

[Ant]

bush was only reelected less than 2 months ago and already i'm reaping the benefits of a $200 raise for going to college...looks like i pulled the right lever

How did Bush get you that raise?  Just curious. 

[Thirteen]

well since bush is credited for everything under the sun that happens in america he has to be responsible for this

ask not what bush can do for you, but what you can do for bush

bush works in mysterious ways

[Ant]

Good! More tax cuts, and refund checks.  GO BUSH!!! WHOOOO!!!!

Do you understand that if taxes go down, but you lose your job your making less per year?  Or if taxes go down, but healthcare goes up, and inflation kicks in your making less?  Taxes are a tool the government uses to achieve objectives.  Not only is it irresponsible to support the way, but not support paying for it, its just poor decision making to support tax cuts that are ACTUALLY causing you to have less, NOT more spending money.  I'm not trying to be an ass, but I dont understand the craziness behind people that want tax cuts at all costs.  My uncle is the same way, he wants tax cuts because "its his money and he deserves to keep it."  Yeah, but my uncle also struggles to find work and has suffered financially over the past four years becuz of the weak economy and rising costs. 

Now inflation is just beginning.  Deficits create inflation, but it takes awhile for it to kick in.  Not only that, but eventually someone is going to have to raise taxes dramatically to pay off the deficit.  You can't avoid paying taxes, all you can hope is that they are as low as possible.  To do that you have to cut spending, but instead we raise spending, cut taxes, and most people end up worse off.

[Ant]

well since bush is credited for everything under the sun that happens in america he has to be responsible for this

ask not what bush can do for you, but what you can do for bush

bush works in mysterious ways

lol no actually i don't credit bush for everthing, when I say Bush i usually refer to his entire administration.  But your right he doesn work in mysterious ways, at least according to this report:

http://democrats.reform.house.gov/features/secrecy_report/index.asp

[Trauma-san]

Inflation Smation, Bush will have us all killed in 10 years anyways, SPEND SPEND SPEND, Gimme Gimme Gimme Gimme

[Ant]

Inflation Smation, Bush will have us all killed in 10 years anyways, SPEND SPEND SPEND, Gimme Gimme Gimme Gimme

have you officially gone crazy?  I remember when trauma was the voice or reason on dubcc supposedly.  how things change.

[Thirteen]

i didn't say you credit him for everything but i've seen alot of responsibilities fall on this man's head so i'm giving him credit for my raise

Bush bless us everyone

[*Jamal*]

I depend on these college grants/loans. LOL 

[Trauma-san]

Inflation Smation, Bush will have us all killed in 10 years anyways, SPEND SPEND SPEND, Gimme Gimme Gimme Gimme

have you officially gone crazy?  I remember when trauma was the voice or reason on dubcc supposedly.  how things change.

Arguing with you is like arguing with a fucking wall.  So I just argue your points for you.  I'm a bigoted racist evil rich white republican, anyways, right?  If I'm gonna be acused of it, I'm gonna at least get the fun of doing it.  HOLLA~

GO BUSH!!! BUSH IN '08!!!

[*Jamal*]

BUSH IN '08!!!

LOL, it would be funny if his brother ran for election and won.