The U.S. Congress reached a deal last night to fund the federal student aid programs in 2012-2013. Some of the highlights of the bill include:
1. Maintaining the $5,550 maximum Pell Grant award for 2012-2013.
2. Duration of Pell Grant eligibility is reduced to the equivalent of twelve (12) full-time semesters.
3. The interest subsidy on student loans during the six-month grace period is eliminated.
4. All other student aid programs (excluding Pell) will be impacted by an across-the-board cut.
The Senate has not voted on the bill, but student aid provisions are not expected to change.
You can read the NASFAA summary of the bill by going to:
1. Maintaining the $5,550 maximum Pell Grant award for 2012-2013.
2. Duration of Pell Grant eligibility is reduced to the equivalent of twelve (12) full-time semesters.
3. The interest subsidy on student loans during the six-month grace period is eliminated.
4. All other student aid programs (excluding Pell) will be impacted by an across-the-board cut.
The Senate has not voted on the bill, but student aid provisions are not expected to change.
You can read the NASFAA summary of the bill by going to:
Best Wishes for a Merry Christmas and A Happy New Year
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