Tagged: Obama financial aid
President Obama’s $4.1 trillion budget, which pundits are saying won’t gain congressional approval, includes plans to redistribute financial aid from middle class students to poor students. Poor students would see grants (aid that doesn’t have to be repaid) increase by $420 each year. These grants would be contingent on the poor students taking enough classes to graduate on time and meeting “academic progress requirements.” To mitigate fraud, provisions would be made to block students who repeatedly enroll at different schools and drop out mid semester.
Perhaps the most controversial part of the proposed financial aid budget is the call to repeal the 20-year-old ban on inmates receiving Pell grants while incarcerated. There is also a “marriage tax” that would calculate financial aid based on the couple’s joint income and these same couples wouldn’t be eligible for debt forgiveness until 25 years.
Best of luck with your applications!
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