Moderate cuts to student financial aid are necessary
December 11, 2011 1 Comment
There has been a recent stir among college students, on our campus and others, concerning a potential reduction of financial aid. Due to the economic crisis and the increasing national debt, spending cuts are being enacted across all major government programs, including financial aid, in order to stabilize the country’s budget.
Understandably, many students have expressed concern about how this policy will affect them and seek a better understanding of this issue. However, the facts of the current proposal have largely been misrepresented in an effort to rouse undue controversy over government plans. The cuts being planned are not nearly as drastic as some have portrayed, and the outcry against them could lead to severe problems down the road.
Many students have panicked over the false idea that financial aid might be thrown out in the midst of the debt crisis. However, this is simply not the case. The current automatic spending cut system will only reduce 2013 spending in financial aid by 7.8 percent, according to a Fastweb report.
This reduction in money is to be evenly distributed across all the major financial aid divisions, so no single program is at risk of being shut down. Because of this, the 86 percent of undergraduates who use financial aid across our country, according to Rutgers University, will see little significant reduction in the coming years.
It is also important to keep in mind the goals that these cuts are moving us toward. This spending cut, along with others across our military, administrative and welfare programs, is working toward the resolution of the debt crisis and the creation of a growing American economy we haven’t seen in years, one that we can thrive in.
Because of the situation in which we live, we must be willing to sacrifice for the long-term good of the entire republic rather than indulging in short-term benefits at the expense of our future. Therefore, this columnist supports the policies of the current administration and supports deficit reduction.