Uh oh, no one is surprise that the nation’s ever growing debt would eventually have an impact on federal money available for students. An article posted by the Daily Iowan reports that, “Starting July 2012, students with federal Stafford Loans will have to start paying interest while they're still in school.” Reportedly, this is necessary to maintain the Pell Grant award amount.
The article goes on to say, if this change is not implemented the Pell Grant could decrease from its current financial award of $5,550 to $3,200.
Considering the rising cost of tuition and the rising number of unemployed, the current maximum award for financially needy students of $5,550 isn’t enough. And to decrease it further would make earning a degree unattainable for many low income families.
Pell Grants have opened many doors in the pursuit to becoming college graduates and improving income potential.
Making graduate students pay interest on their Stafford loans during enrollment is a small sacrifice, compared to the risk of reduced financial aid Pell Grant awards.
Let’s hope there isn't any other negative changes that would limit our ability to continue on our educational journey.
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