Obama Thanks American Youth For Their Vote… Cuts Pell Grants
In 2008 Obama took 66% of the youth vote.
This weekend he thanked them.
Obama cut $100 billion from Pell Grants.
So now, not only are 51.1 percent of Americans between the ages of 16 and 24 years old unemployed, but they won’t have any money for school either.
How’s that for hope and change?
The AP reported:
President Barack Obama’s budget plan would cut $100 billion from Pell Grants and other higher education programs over a decade through belt-tightening and use the savings to keep the maximum college financial aid award at $5,550, an administration official said.
Nearly $90 billion of the projected savings would be achieved through two changes, said the official, who spoke on condition of anonymity ahead of Monday’s release of Obama’s 2012 budget. The spending plan applies to the budget year that begins Oct. 1.
Congress would have to approve both changes.
The first proposal would end the “year-round Pell” policy that let students collect two grants in a calendar year, with the second grant used for summer school. The official said the costs exceeded expectations and there was little evidence that students earn their degrees any faster.
The change would save $8 billion next year and $60 billion over a decade, the official said.
A second proposal would reduce loan subsidies for graduate and professional students. That would free $2 billion next year and save $29 billion over 10 years, according to the official.