Congress needs to save money. And that means saving on college. As in, no college.
Hundreds of thousands of low-income students will lose Pell Grants beginning July 1, when new eligibility requirements put into place by Congress go into effect, according to the San Jose Mercury News.
The new rules prohibit students without GEDs or high school diplomas from receiving the grants, and also cut out anyone receiving grants after six years. Previously, a student could receive grants for up to nine years.
The reforms will save $11 billion over 10 years, according to reports. Students will lose the $5,550-a-year grants in order to find the savings.
"The loss of Pell Grants could put college out of reach" for many students with fiscal hardships, the newspaper reported.
Under old rules, students who had taken at least six units of college courses but who did not have a diploma were eligible for the loans. The new rule eliminates the Pell Grants as well as other subsidized loans for the students, known as "ability-to-benefit" students.
Congress was forced to make "tough choices" in deciding to cut out school for would-be students, according to Rep. John Kline, R-Minn.
