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tax cuts for everyone
July 18, 2003 8:22 AM   Subscribe

A University, far away. Tens of thousands of U.S. students will lose most or all of their financial aid.
posted by plexi (15 comments total)

 
This report explains that tens of thousands of students will lose most or all of their government grants, not all of their financial aid. I'm not saying this is a good thing at all, but other financial aid options such as government guaranteed loans are still available. The article does state that loans could be adversely affected by these cuts, but that was not the focus of the report.
posted by jsonic at 8:42 AM on July 18, 2003


correction: Tens of thousands of U.S. students will lose most or all of their Pell grants.
posted by Steve_at_Linnwood at 8:43 AM on July 18, 2003


Wow, a working deep link to the NYT. How did you do that?
posted by jfuller at 8:43 AM on July 18, 2003


Glad I graduated in May! Now I'm free (unemployed)!
posted by crazy finger at 8:48 AM on July 18, 2003


Now I'm free (unemployed)!

Great! The president needs you (and your college-aid-lacking buddies from struggling families) to feed into the war machine. The bunkers are on your left. Start running.
posted by planetkyoto at 8:56 AM on July 18, 2003


Wow, a working deep link to the NYT. How did you do that?

he registered you up before he posted. so he wouldn't have to listen to the whining about reg-required links.
posted by quonsar at 8:59 AM on July 18, 2003


correction: Tens of thousands of U.S. students will lose most or all of their Pell grants.

Unfortunately, a lot of Pell grant recipients don't qualify for student loans, and thus have to rely on Pells as the major source of their financial aid.

So your correction is misleading. The headline is correct.
posted by Cerebus at 9:46 AM on July 18, 2003


> he registered you up before he posted. so he wouldn't have
> to listen to the whining about reg-required links.

So who did the NYT think I was when I followed the link, and where did it pick up the identity info? I'm still a bit vague on how this works. Thanks.
posted by jfuller at 9:53 AM on July 18, 2003


This article is a classic scare. In fact, the number of students receiving Pell grants will increase by 300,000 over the next several years, and the amount of money expended on the Pell Grant program will also expand by $1 billion.

What is changing are the income qualifications for the grants. Cerebus: If you are too rich to qualify for federal loans, why should you get a grant?
posted by mtstover at 10:02 AM on July 18, 2003


I can't find the exact quote but it goes something like:

"Your parents have tons of money"

"You don't understand, they aren't giving me any."
posted by jopreacher at 10:32 AM on July 18, 2003


jfuller: you email a link of the page to yourself through the NYTimes cgi. Then, you take the link in your email as your URL.
posted by the fire you left me at 11:04 AM on July 18, 2003


I thought absolutely anyone could get the government-guaranteed loans-- he just has to have poor parents to have the interest subsidized.

Am I wrong?
posted by trharlan at 11:08 AM on July 18, 2003


trharlan, yes, I'm afraid so. There are qualifications for GSLs, and no interest subsidy for anybody whatsoever. The interest might get you a tax credit on your 1040, depending how much interest there is and how much money you make when you are making student loan payments. Furthermore, thanks to changes in the program during the administration of Bush I, you can only defer interest if you are attending classroom studies at least half time (might be full time now). That means that even though you can often defer payments depending on the program, interest accrues during any internship, residency, or other training you may be required to have between college and RealJob™.

Let's just say I'm glad to be done with the whole thing.
posted by ilsa at 11:32 AM on July 18, 2003


Unfortunately, a lot of Pell grant recipients don't qualify for student loans, and thus have to rely on Pells as the major source of their financial aid.

Ummm... I think you have that backwards.... Even though I get zero dollars from my parents for anything.... I am not poor enough to qualify for Pell grants.

Anyone can get Federal Student loans.... anyone.

This post's headline is an exaggeration.
posted by Steve_at_Linnwood at 1:28 PM on July 18, 2003


Well, my college was partly paid for by a Pell Grant (early 90's), so I don't like this. And contra mtstover & others calling this overblown, the best balanced discussions of this I've seen say that while the changes are a mixed bag, the fact of cut back eligibility for many (= many more than the calming announcements they put out) are all too real. I think if you look at the parameters of the Pell program, you'll realize that there are not this many who need to be trimmed because they don't need the aid.
posted by Zurishaddai at 12:17 AM on July 19, 2003


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