HEA Reauthorization

AASCU is very concerned about the impending federal budget reconciliation process in the House and Senate. We are particularly concerned that the House budget reconciliation unfairly targets up to $15 billion in cuts from student loans over six years to meet arbitrary budget targets in pending reconciliation bills. These cuts will force students to work more or borrow more privately to reach their higher education goals--or forego them completely.

We believe that the share to be taken from the federal loan programs is grossly unfair and excessive. The budget must not be balanced on the backs of students. Similar budget cutting legislation is underway in the Senate but some of the funds cut from the loan programs are being plugged into new grant programs to assist needy students.