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Changes to Pell Grants will cost students.(NEWSWATCH)(Brief Article)
More than one million students and their families could see their eligibility for federal financial aid cut because of a new formula that will show them to have more discretionary income, according to the American Council on Education. As many as 900,000 students could lose their Pell Grants, the government's primary source of aid for students from low-income families.
Most of the students who will be affected receive the minimum Pell Grant of $400. "This will probably not lead students to drop out," said Terry Hartle, senior VP for government and public affairs at the American Council on Education. "The real concern here is that the change will have a trickle-down effect because many states and colleges use the federal formula when ...
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