PA Student Loan Agency Planning Cuts To Some Aid Programs (Associated Press)
"The PA state-run student loan agency is planning to cut spending on certain programs by a projected 58 percent," reports the Associated Press. "The cuts at the Pennsylvania Higher Education Assistance Agency mean a reduction in the number of grants given to full-time students and in financial aid to adults taking job-training classes. PHEAA's nonprofit foundation also will have less money to hand out to nursing students and nursing educators. The agency anticipates spending $44.4 million on the aid programs in 2008-09, down from $105.8 million this year. The cuts are needed because of a new federal law governing student lenders and by unsettled financial market conditions, said James Preston, PHEAA's interim president and CEO."
You can read the complete October 20, 2007 Associated Press article on-line.
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