Financial Aid Announcements
The sequester and federal student financial aid
Here's how the federal across-the-board budget cuts (sequester) that went into effect March 1, 2013 impacts federal student aid programs:
- Pell Grant: No impact.
- Federal Work Study: No impact for 2012-2013 award year but funding is reduced for the 2013-2014 award year.
- Federal SEOG: No impact for 2012-2013 award year but funding is reduced for the 2013-2014 award year.
- Federal Direct Loans: Increase in loan fees: subsidized and unsubsidized to 1.05% from 1% and PLUS loans to 4.20% from 4%.
- TEACH Grant: reduction of 6.0% of first disbursements made after March 1, 2013.
More Financial Aid Announcements