"The 50 states, the District of Columbia, and Puerto Rico took advantage of the nation's strong economy during the 2007-8 budget year and spent a total of nearly $10-billion on student aid," Chronicle of Higher Education reports. "That was an increase of 6.6 percent from the year before when adjusted for inflation, according to an annual report released this week by the National Association of State Student Grant and Aid Programs. But that $700-million one-year increase in financial aid that the jurisdictions provided for college students in 2007-8 will probably represent a peak for the next several years as the recession shrinks state tax revenue and lawmakers look for places to cut budgets."