February 16, 2007
How President Would Pay for Increase in Pell Grants
The money would come from killing one program and reducing subsidies for lenders
The good news for colleges and loan companies turned bad last week as President Bush revealed that he would pay for a much-heralded increase in the maximum Pell Grant by cutting lender subsidies and eliminating the Supplemental Educational Opportunity Grant program.
Under the president's budget, previewed in January, but officially unveiled last week, the maximum Pell Grant would grow to $4,600 next
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