It has been a while since you heard about us and our petition to Save Student Aid. Last year, your signature, along with those of more than 140,000 people like you, made sure that Capitol Hill got the message that students need support, not more cuts.
We are now facing a historic moment and it’s time to send Congress a new message. You’re probably already familiar with the so-called “fiscal cliff,” which lawmakers have partially avoided by making tax decisions. But in that same bill, Congress delayed decisions on spending cuts until March 1. If Congress goes forward with the mandated cuts, students who get federal aid could lose up to $876 a year. We call this situation the ‘student fiscal cliff.’
Here’s a detailed breakdown of the impact of the sequester to students.
If Congress doesn’t act to prevent a 6 percent cut to the student aid programs, more than 100,000 students could lose major portions of their financial aid, and millions more will see their aid reduced. Students have given again and again to help balance the budget. In fact in just the last few years, over $35 billion in student aid has been eliminated.
They’ve already cut:
·The summer Pell Grant that helped low-income students study year-round and finish their degrees in a shorter time.
·The Leveraging Educational Assistance Partnerships grant program which paired federal dollars with state dollars to provide more aid to deserving students.
·The in-school interest exemption for graduate and professional students, making borrowing more expensive at a time when students can afford it least.
·The interest exemption during the ‘grace period’ that allowed people just out of school six months to get settled before accumulating interest on their loans.
·Eligibility in the Pell Grant Program for more than 100,000 students. They also limited the benefits available to others.
Students and families have already given more than their fair share. We can’t afford go over the student fiscal cliff. Please, contact your members of Congress today.