August 1, 2003

84,000 Students Could Lose Pell Grants Under New Formula, Education Department Estimates

Despite claims by the Bush administration to the contrary, it appears that a change made in May in the federal government's formula for calculating students' need for financial aid will have a significant effect.

Budget officials at the U.S. Education Department have estimated that 84,000 students will lose their eligibility for Pell Grants in the 2004-5 academic year as a result of the change. In addition, college lobbyists estimate that an additional one million students will see

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