Sequestration Impact Outlined School-by-School
"The sequester, a series of across-the-board governmental budget cuts totaling $85 billion, is upon us after Congress missed a Friday deadline to avoid it," USA Today reports. "While every American will undoubtedly be impacted by the cuts, college students will face an added burden in specific ways. The sequester is expected to drain the federal work-study program budget by $37.6 million and the funds for the Supplemental Educational Opportunity Grant (SEOG) will be cut by almost $33.6 million, according to projections released by the National Association of Student Financial Aid Administrators (NASFAA). … The variation in cuts is due to how another law, the Higher Education Act, interacts with the sequester, said NASFAA President Justin Draeger. The sequester outlines across-the-board, programatic cuts, while the Higher Education Act outlines specific allocation methods that give every school a certain “base guarantee” of federal aid, in addition to certain add-ons. “Schools that, in the past, only used their base guarantees, aren’t typically seeing cuts because of the sequester,” Draeger said."
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