Bush Cuts Financial Aid for College Students

August 19, 2003

The Bush administration has revised the formula for determining eligibility for Pell grants, the government's primary financial aid program for college students from low-income families.

The Congressional Research Service estimates that when the new formula goes into effect in the 2004-5 academic year, 84,000 students will lose their Pell grants and hundreds of thousands more will have their grants reduced. The new formula will have a further ripple effect as states also reduce grants and aid.

These cutbacks in financial aid come at time when public colleges and universities are dramatically raising tuition. The net result is that more and more of our youth are being denied access to a higher education.