TO THE EDITOR:
The future of financial aid is in dire straits. Pell Grants, which ensure low-income students the opportunity to attend college, are under attack in Congress.
The FY17 spending agreement passed by Congress in May 2017 rescinded $1.3 billion from Pell Grants.
This plan cut the grant program’s surplus, which is funding needed to pay for grants when the congressional prediction for how much aid is needed falls short.
The current Pell surplus is at $8.5 billion, and it has taken years to grow.
But, if the economy tanks and job opportunities decrease, more students will go back to college, and the Pell Grant program will see a shortfall.
Recently, the FY18 spending agreement that passed the House in July proposes a cut of an additional $3.3 billion of the $8.5 billion surplus, much to the ire of college affordability advocates.
The cut places the program at risk of future reductions to grants that would exacerbate student debt and limit access to higher education.
Our only saving grace is that the Senate has yet to act or debate on this proposed spending bill.
