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Bush deficit reduction act hurts education funds { February 2 2006 } Original Source Link: (May no longer be active)    http://www.ksl.com/?nid=148&sid=158142 http://www.ksl.com/?nid=148&sid=158142 Deficit Reduction Act Could Add $1,360 to Student's Loans February 2nd, 2006 @ 6:52am SALT LAKE CITY (AP) -- The Deficit Reduction Act passed by the U.S. House on Wednesday could drive up a typical Utah student's loan debt by $1,360, a Utah Higher Education Assistance Authority official said. The act would cut $12.7 billion from federal student loan programs as part of a five-year, $39 billion savings plan. Most of the $12.7 billion cut will stem from locking student loans into a fixed interest rate, said Dave Feitz, associate executive director of the assistance authority. He said a 6.8 percent fixed rate would replace the current 5.3 percent variable rate students are now eligible for on Stafford Loans. That could mean an extra $1,360 over the 10-year life of the average $15,000 Utah student debt for a four-year degree, he said. "Sure, the monthly payment isn't that much different, but over the life of the loan it costs students a significant amount of money," he said. "It makes the student loans more expensive for students, which we think is the wrong approach at a time when the nation needs to be investing in higher education." The fixed loan rate, which would become effective July 1, could not come at a worse time, said John Curl, director of financial aid at the University of Utah. With increasing tuition rates and cost of living, students are already struggling to pay for education. "There hasn't been an investment in this program to begin with and then for the majority of the deficit to be reduced by student aid, that's disheartening," Curl said. Supporters of the bill say the measure stabilizes the student loan system and offers incentives for students, like higher loan limits and lower student fees. In addition, the law increases grant aid for math and science students. "We can expand college access for low- and middle-income students while simultaneously generating savings for all American taxpayers by reducing program waste and inefficiency, and giving the programs a strong financial footing for future generations of students," states a November letter from the U.S. House Committee on Education and the Workforce. (Copyright 2006 by The Associated Press. All Rights Reserved.)

2005 college tuition moving up { May 19 2004 } Anti voucher essay { May 1 2003 } Blair seeks to calm tuition fee fears { December 4 2002 } Blair stands firm on tuition fees { June 24 1998 } Bush cuts after school programs Bush deficit reduction act hurts education funds { February 2 2006 } College costs up with less state aid College fair aids students facing rising tuition { November 13 2003 } College tuition fees up 7perc this year { October 22 2007 } College tuition outstrip aid Columnist says low tuition is welfare { March 19 2001 } Contracters profit off failing students { February 4 2006 } Dc mayor now endorses vouchers { May 2 2003 } Diane feinstein suports dc vouchers { September 27 2003 } Edison company narrows losses { May 15 2003 } Education secretary to close nclb loophole { April 21 2006 } Ehrlich links slot machines to education money Failed schools to be privitized { March 29 2006 } Federal program turns troops into teachers Free europe tuition receiving battering { October 13 2003 } Higher education flunks affordability House passes dc voucher plan { September 5 2003 } Maryland 2m grant helps troops to public school teachers Maryland university tuition going up 6perc 2005 { January 27 2005 } More relying on college loans as tuition rises { June 2 2004 } Neil bush makes money with privitizing education Opinion fewer students can afford college { November 6 2003 } Parents too poor to save for children Philly district head wants cut price { May 22 2003 } Philly nations largest privatization experiment { May 23 2003 } Religious voucher { June 28 2002 } Royal battle over tuition fees { January 17 2003 } School vouchers { July 2 2002 } Schools cut back all subjects except reading and math { March 26 2006 } Schools dont teach american culture or history { February 26 2008 } Student protests Ehrlich veto over tuition veto { June 16 2004 } Texas university tuition incease Textbook sell off { October 30 2002 } Tuition rises 10 percent at colleges { October 20 2004 } Tuition rises maryland put mission at risk University education costs are rising Voucher measure bogged down in senate { September 25 2003 } Vouchers hurt those most in need { October 6 2003 } Vouchers urged dc schools { April 16 2003 } Why fees rise while services stagnate { October 27 2003 } Files Listed: 45

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