Here’s What the $400-Billion Federal Spending Deal Means for Higher Ed

"Soon after the federal government shut down, at the stroke of midnight on Friday, Congress passed and President Trump signed a two-year, bipartisan budget deal that not only keeps the government running until late March but also provides more funding for higher-education programs," The Chronicle of Higher Education reports.

"The Bipartisan Budget Act of 2018 includes $4 billion for 'student-centered programs that aid college completion and affordability,' according to an outline of the agreement. Details about what that actually means are few and far between, but the measure covers 'programs that help police officers, teachers, and firefighters.' The bill also provides $100 million in relief for institutions in Puerto Rico.

'Students should be able to earn a college degree — especially low-income students and those who have dedicated their careers to public service, including teachers and first responders — without crushing financial burden,' said Sen. Patty Murray of Washington, the top Democrat on the Senate education committee, in a written statement. 'This budget deal is a step in the right direction to addressing our country’s massive student-debt crisis.'

The deal also offers relief to Berea College, a small institution in Kentucky that has a large endowment and charges no tuition. It was hit with a 1.5-percent tax on its endowment earnings in the tax-overhaul law that was enacted in December. A provision that would have exempted the college initially appeared in the tax bill, but it was taken out after Democrats said it would violate a key Senate rule. The budget deal reinstates the exemption."

NASFAA's "Headlines" 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.

 

Publication Date: 2/13/2018


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