May 13, 2005

Budget Agreement Saves Perkins Program

By JEFFREY SELINGO

Republican Congressional leaders have reached an agreement on a budget resolution for the 2006 fiscal year that includes a $100 increase in the maximum Pell Grant and saves the Perkins Loan Program, which the Bush administration has proposed eliminating. At the same time, however, the plan calls on Congress to possibly cut spending on other federal student-loan programs.

The spending plan also would forgive the $4.3-billion shortfall in the Pell Grant program's budget.

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