Nearly 100,000 Students Lose Grants Due To New Bill Passed

Last year the United States government made an attempt to change the formula for college aid, but Congress did not approve the movement. On November 20th of 2004 Congress was presented with yet another new bill which was passed. This new bill redesigned the formula for college aid, and as a result more than 100,000 students may lose their federal grants. Congress legislation places more of the financial burden for colleges on the students and their families. Senator Jon S. Corzine, who opposes the bill states "they are throwing students out of the opportunity to seek a college education." The administration may be saving nearly $350 million dollars, but as a result 90,000 students whose parents earn between $35,000 and $40,000 will lose the grants presented to them.
http://www.nytimes.com/2004/11/21/education/21pell.html?pagewanted=all