Jobless, Students Face Sequester Threats
"People receiving federal extended jobless benefits could see their payments reduced by up to 9 percent or more starting around the end of March if Congress fails to block automatic spending cuts scheduled to take effect Friday," the San Francisco Chronicle reports. "Some college students also could get slightly less federal financial aid in 2013-14 under the planned reductions. These are just two of many groups that would be directly affected by the sequester, which requires the federal government to slice $85 billion from its $3.6 trillion budget for fiscal 2013, which ends Sept. 30. … The changes would not affect aid students are receiving for the current academic year, but would impact aid packages for 2013-14 and beyond. Most schools mail financial aid award letters for the fall in March or April. "Even if sequestration goes into effect Friday, it might be a while before schools understand what their numbers are going to be," says Megan McClean, policy director with the National Association of Student Financial Aid Administrators."
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