Obama to cut Pell Grants

[RockX]

President Barack Obama's budget plan would cut $100 billion from Pell Grants and other higher education programs over a decade through belt-tightening and use the savings to keep the maximum college financial aid award at $5,550, an administration official said.

Nearly $90 billion of the projected savings would be achieved through two changes, said the official, who spoke on condition of anonymity ahead of Monday's release of Obama's 2012 budget. The spending plan applies to the budget year that begins Oct. 1.

Congress would have to approve both changes.

The first proposal would end the "year-round Pell" policy that let students collect two grants in a calendar year, with the second grant used for summer school. The official said the costs exceeded expectations and there was little evidence that students earn their degrees any faster.

The change would save $8 billion next year and $60 billion over a decade, the official said.

A second proposal would reduce loan subsidies for graduate and professional students. That would free $2 billion next year and save $29 billion over 10 years, according to the official.

http://news.yahoo.com/s/ap/20110213/ap_on_re_us/us_obama_pell_grants

:lol:

How’s that for hope and change?

 

[Bfgrn]

President Barack Obama's budget plan would cut $100 billion from Pell Grants and other higher education programs over a decade through belt-tightening and use the savings to keep the maximum college financial aid award at $5,550, an administration official said.

Nearly $90 billion of the projected savings would be achieved through two changes, said the official, who spoke on condition of anonymity ahead of Monday's release of Obama's 2012 budget. The spending plan applies to the budget year that begins Oct. 1.

Congress would have to approve both changes.

The first proposal would end the "year-round Pell" policy that let students collect two grants in a calendar year, with the second grant used for summer school. The official said the costs exceeded expectations and there was little evidence that students earn their degrees any faster.

The change would save $8 billion next year and $60 billion over a decade, the official said.

A second proposal would reduce loan subsidies for graduate and professional students. That would free $2 billion next year and save $29 billion over 10 years, according to the official.

http://news.yahoo.com/s/ap/20110213/ap_on_re_us/us_obama_pell_grants

:lol:

How’s that for hope and change?

Are you happy Obama is doing this webbway? If so, why?

 

[WinterBorn]

I'm happy they are cutting the spending down.

 

[Bfgrn]

I'm happy they are cutting the spending down.

Even if it is harmful to fellow citizens? Pell Grants allow working moms to get a higher education, to pull themselves up and out of poverty. It helps low income families send their kids to college.

This action is not a liberal tenet, it's not even a conservative one.

Education is the cheap defense of nations.
Edmund Burke

 

[WinterBorn]

Even if it is harmful to fellow citizens? Pell Grants allow working moms to get a higher education, to pull themselves up and out of poverty. It helps low income families send their kids to college.

This action is not a liberal tenet, it's not even a conservative one.

Education is the cheap defense of nations.
Edmund Burke

Nothing was said about cancelling the Pell Grant program.

"The first proposal would end the "year-round Pell" policy that let students collect two grants in a calendar year, with the second grant used for summer school. The official said the costs exceeded expectations and there was little evidence that students earn their degrees any faster."

Cutting the grants used as the second grant in the summer is a smart cost cutting move. The summer grants have not shown to have students graduate any faster.

 

[Onceler]

Nothing was said about cancelling the Pell Grant program.

"The first proposal would end the "year-round Pell" policy that let students collect two grants in a calendar year, with the second grant used for summer school. The official said the costs exceeded expectations and there was little evidence that students earn their degrees any faster."

Cutting the grants used as the second grant in the summer is a smart cost cutting move. The summer grants have not shown to have students graduate any faster.

The more I read about it, the more it looks like the kind of cut they should be making. They're evaluating expenditures and reducing or eliminating ones that aren't working or aren't as effective as they could be. They're also investing in education in other areas.

I'm sure that once webbway takes a close look at the situation, he'll have some very insightful comments to make about it...

 

[leaningright]

The more I read about it, the more it looks like the kind of cut they should be making. They're evaluating expenditures and reducing or eliminating ones that aren't working or aren't as effective as they could be. They're also investing in education in other areas.

I'm sure that once webbway takes a close look at the situation, he'll have some very insightful comments to make about it...

I was wondering about the glee that seemed to come from the OP. It is one thing to be happy about spending cuts but it is quite another to be happy that someone is going to have a harder time as a result. I think the glee that many on the right show now will be sour grapes as Obama is elected again in 2012 because he is found by many to be more centrist than perhaps they first thought. You are correct that it looks like the kind of cut they should be making. See what works and what doesn't...cut some, tweak some....that's how things get accomplished, IMO.

 

[NOVA]

The more I read about it, the more it looks like the kind of cut they should be making. They're evaluating expenditures and reducing or eliminating ones that aren't working or aren't as effective as they could be. They're also investing in education in other areas.

I'm sure that once webbway takes a close look at the situation, he'll have some very insightful comments to make about it...

The government doesn't spend money for OUR benefit...it spends money to buy votes.....with few exceptions....

Spending a million dollars to create 1, 30,000 dollar a year job is NOP....

 

[NOVA]

I was wondering about the glee that seemed to come from the OP. It is one thing to be happy about spending cuts but it is quite another to be happy that someone is going to have a harder time as a result. I think the glee that many on the right show now will be sour grapes as Obama is elected again in 2012 because he is found by many to be more centrist than perhaps they first thought. You are correct that it looks like the kind of cut they should be making. See what works and what doesn't...cut some, tweak some....that's how things get accomplished, IMO.

Sour grapes?.....what bullshit sterotyping....

He gets a little more "centrist" and I'm liable to vote for him.

 

[SmarterthanYou]

wow. once again, the government throws a bone to the people without losing any of its own money, and most of the people suck this up like they haven't had water in a year.

 

[Topspin]

they should have a 10% accross the board cut and 25% for the military.

 

[Cancel 2016.2]

they should have a 10% accross the board cut and 25% for the military.

They should automatically take every single line item back to the levels of 2006. Then they should cut the military budget by a third.

 

[Bonestorm]

They should automatically take every single line item back to the levels of 2006. Then they should cut the military budget by a third.

That'll get the economy humming again.

 

[Onceler]

That'll get the economy humming again.

The time for stimulus has passed. The indicators right now aren't that bad; things are moving in the right direction, and it's time for the private sector to take over.

The best thing the gov't can do now is get its fiscal house in order, and start attacking debt....

 

[Cancel 2016.2]

That'll get the economy humming again.

In the long run that is by far the best move. In the short run it is likely to produce the best move, though that is more debatable.

There is no reason to keep spending at this insane level where we see $1.5 TRILLION+ in deficit spending over the next couple of years.

Correct me if I am wrong, but from what I recall, the deficit is supposed to be cut in the next ten years to about $500B. Which when Bush was President was considered insane.

 

[Topspin]

Obama is cutting the deficit he quadrupled. He's reintroducing the higher tax rates and axing the homeowners interest deduction for successfull people (over 200K).
Can we get a warm body on the right to get this socialist champion where he belongs next to carter.

 

[Bonestorm]

The time for stimulus has passed. The indicators right now aren't that bad; things are moving in the right direction, and it's time for the private sector to take over.

The best thing the gov't can do now is get its fiscal house in order, and start attacking debt....

Yeah, austerity is really working out well for the Brits.

How's that unemployment indicator look?

 

[Cancel 2016.2]

Yeah, austerity is really working out well for the Brits.

How's that unemployment indicator look?

So you think the massive spending increases from 2007-2010 should remain in place?

If so, for how long?

also, you do realize that a huge portion of that spending was for the ONE TIME bailout of the banks/GM etc...?

Also... off topic... but with all the TARP money that has been paid back... where did it go? (not a challenge to you personally, just curious... because no one seems to know)

 

[Topspin]

turbo-libs crucified Bush for spending 1/3 what Obama is spending.
Please send another Reagan to crush this reicarnation of Jimma Carta

 

[Bonestorm]

So you think the massive spending increases from 2007-2010 should remain in place?

No.

If so, for how long?

N/A.

also, you do realize that a huge portion of that spending was for the ONE TIME bailout of the banks/GM etc...?

Yes, also the stimulus.

Also... off topic... but with all the TARP money that has been paid back... where did it go? (not a challenge to you personally, just curious... because no one seems to know)

Don't know.