The 2008 Congressional budget takes a meaningful step
towards making college more affordable for America’s students.
The 2008 Congressional budget announced today provides a
$5.6 billion increase in education funding, including the Pell Grant Program,
compared to last year’s budget. The 2007
budget passed earlier this year provided the first increase to the maximum Pell
Grant award in four years.
The budget also includes reconciliation instructions to the
Education Committees requiring cuts of $750 million over the next six
years. This year, the Chairs of the
Education Committees have outlined significant higher education reform agendas
and have committed to directing these cuts to private lenders. These
reconciliation instructions pave the way for much needed reform of the federal
student loan system. By cutting
excessive subsidies to private lenders beyond what reconciliation instructions
require Congress can provide students with less expensive loans and more
federal grant aid.
The State PIRGs are non-profit, non-partisan
public interest advocacy groups. The Higher Education Project was established
in 1994 to secure more aid for students, with a focus on additional grants,
reduced debt, and better service to students in the federal financial aid
system.
