Congress provided temporary relief to “fiscal cliff” fears through passage of the American Taxpayer Relief Act in early January, which delays sequestration—the across-the-board cutting mechanism—until March, 1 2013. That date, and the subsequent threat of sequestration, is fast approaching. Whereas seasoned observers originally speculated that Congress would find a way to stop sequestration, many now speculate that it will in fact occur. Sequestration is a 10-year process and would impose large cuts to most of the student aid programs beginning with the 2013-14 award year.
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