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Message: U.S. starts to cut Education Costs & Loans - How sad!

U.S. starts to cut Education Costs & Loans - How sad!

posted on Aug 02, 2009 09:34AM


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Posted: Aug 01 2009 By: Jim Sinclair Post Edited: August 1, 2009 at 3:53 pm

Filed under: In The News

Jim Sinclair’s Commentary

Dump the politicians and keep police, firemen and education.

Where is your rage?

More Cuts for Colleges Are Likely Even After States Pass Budgets
July 27, 2009
By Eric Kelderman

A few weeks after wrapping up their budgets for the new fiscal year, lawmakers in some states already expect a new round of spending cuts, including to higher education, as tax revenues continue to fall.

Estimates of states’ revenue shortfalls have grown worse since the spring, reaching a total of nearly $143-billion when most states began the 2010 fiscal year, on July 1, according to a survey by the National Conference of State Legislatures. But at least 11 states are already expecting to make midyear cuts, totaling more than $22-billion, according to the Center on Budget and Policy Priorities, an advocacy group.

More…

California Budget Deal Cuts $2.8 Billion Higher Ed, Saves Financial Aid
by Peter Galuszka
Jul 27, 2009, 01:38

After marathon sessions including all-nighters, the California Legislature has passed a budget deal that will bring new gloom to higher education by slashing funding for public colleges by $2.8 billion and school districts and community colleges by $5.7 billion.

The cuts are part of a deal worked out by Gov. Arnold Schwarzenegger to plug a $26 billion hole in the state’s $92 billion general fund budget by slicing funds for education, prisons, transportation and localities. The Legislature ended up approving cuts of $24 billion after rejecting Schwarzenegger’s calls for a $2 billion reserve fund.

Although public higher education is being whipsawed again by the cuts, the damage seems not as great as once feared since the state’s student financing arm will not be touched.

The University of California and California State University systems are expected to see cuts of about $2.8 billion on top of a cut of $548 million approved earlier. The 100-campus community college system and other school districts will see further funding cuts of $5.7 billion. This would be in addition to the $8 billion in cuts for schools and community colleges proposed earlier this year.

More…

130,000 Illinois college students denied financial aid
State, short of money, cut off help months early
July 30, 2009
BY DAVE NEWBART Staff

The state will deny the financial aid applications of an estimated 130,000 students — the most in Illinois history.

They were denied because they applied for state aid after May 15, a cutoff months earlier than in years past, thanks to Springfield’s budget woes.

Hardest hit? Students at community colleges and returning adult students, because they tend to apply for aid later.

What’s more, under the state budget compromise reached earlier this month, which slashed funding for the state’s Monetary Award Program in half, no student at any Illinois school will receive aid for the second half of the 2009-2010 school year.

More…

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