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Virginia Tech officials are expecting an increase in student financial aid requests.
Last year, 25,014 students received aid and scholarships. This year more are expected to apply.
Today is the deadline for the Free Application for Federal Student Aid.
No official figures will be available until a new software program can compute the data, said Barry Simmons, director of scholarships and financial aid.
Because of the nature of financial aid, it is difficult to determine how the increase will affect individuals.
“It just depends,” Simmons said. “It’s so individualized. It depends on what type of students are applying (and) those that bring money with them.”
The university has a finite amount of money for financial aid, but more students applying does not necessarily mean less money for all.
However, federal stimulus funds will expire for the 2011-2012 academic year.
According to Tim Hodge, university budget director, eligible in-state students got $130 each from the funds, for a total of $2.3 million.
One detriment to financial aid for the upcoming academic year will be slashed work study funds.
These funds, given by the federal government, were cut by 41 percent in October.
Also affecting student aid is potential legislation cutting the Federal Pell Grant Program.
The grants, allocated based on academic status and financial need, award up to $5,550 a year.
The House Republican budget proposal would cut the grant by $845 per student, or 15 percent, and lower it further over the next decade.
“If (it) passes, we may potentially have to redo awards,” Simmons said. “Students should be aware.”
A version of this article appeared in the Mar 1 issue of the Collegiate Times.
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On top of huge cumulative tuition increases in the past few years, cuts in Work Study grants and now probably Pell Grants, a quality 4 year degree is getting further and further away from lower income families.
It's becoming more and more apparent that huge cuts in education and the other things that make America great are due to huge corporations who pay no taxes at all because of loopholes and offshore tax havens.
US Uncut started a movement here on Saturday, that everyone who is worried about this should know about. http://www.thenation.com/signup/158874?destination=/article/158874/us-uncut-hits-streets
According to this article, $100 BILLION is lost each year just to offshore tax havens. These businesses do business in the US, have headquarters in the US, but mysteriously all have their money in one office building in the Cayman Islands. Why should we cut $60 billion from social services, education, and other important programs when we can instead collect the missing $100 billion from cheating corporations?
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Sorry, that link wasn't great. Here's the better one:
http://www.thenation.com/article/158874/us-uncut-hits-streets
And, to be clear, we are talking about corporations that rake in billions in profits - such as Exxon-Mobil, Bank of America, Citigroup and others; and PAY ZERO in income taxes for years and years.
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I agree...the hardworking poor will suffer the most, in the end. It'll become literally impossible for them to earn a degree, due to the financial constraints. They'll be forced to REMAIN at the poverty level the rest of their lives with no chance to climb out of it. Meanwhile, the offspring of the mega rich are lazy, pampered brats who have no inkling of what they want to do with the rest of their lives, and don't give a damn about college. Why should they? Mommy and Daddy will bail them out for live.
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