Maryland: Sequester Will Affect Financial Aid for the Coming Academic Year
"The across-the-board federal spending cuts known as the sequester come at a bad time for Maryland colleges. Many usually send out financial award letters this month, but they still don't have all the details on how much federal funding they will receive for certain aid programs," The Baltimore Sun reports. "And even if the Department of Education gives them firm numbers before letters go out, school officials say, Congress and the White House could reach a later deal that would involve further aid changes. "For aid officers, it's extremely frustrating to have change at the last minute," said David Horne, director of financial aid at Towson University. Incoming freshmen typically have until May 1 to decide where to attend college in the fall, and financial aid packages are often the deciding factor. ... The Education Department hasn't told individual schools how much of this aid they stand to lose, if any. But the National Association of Student Financial Aid Administrators calculated the amount schools would have received for the coming academic year with and without the sequester. According to NASFAA, some Maryland schools will receive the same amount they would have without the sequester, while others stand to lose tens of thousands of dollars."
NASFAA's "Financial Aid in the News" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.