"President Obama's FY 2012 budget proposal places a high priority on the Pell Grant Program and seeks to shore up its financial underpinning. The administration's plan to reach this goal includes identifying $100 billion in potential savings while maintaining the current $5,550 maximum grant. These savings would be achieved primarily by imposing a moratorium on year-round Pell Grants and eliminating the in-school interest exemption for graduate and professional students.
It is clear the administration has put a lot of effort and care into producing a budget that strives to protect and preserve student financial aid. We are pleased that in addition to the Pell Grant Program, the administration continues to support the Supplemental Educational Opportunity Grant Program, the Perkins Loan Program and the Federal Work-Study Program. While the higher education community does not agree with all the choices made, we support the overall objective of ensuring a viable array of student aid programs anchored by the indispensible Pell Grant Program.
The restoration of economic prosperity in a globally competitive economy relies upon a well-educated workforce. Without robust and diverse student aid programs, many students will be denied the opportunity to participate in postsecondary education and the United States will lose the opportunity to make the most of its human capital.
We believe this proposal is a strong and constructive starting point for discussion between the administration and Congress as they work to outline federal spending for the next fiscal year. Throughout that process, we will continue our advocacy efforts on behalf of the student aid programs that are so important to millions of students and their families."
MEDIA CONTACT: Erin A. Hennessy ▪ 202-939-9367 ▪ EHennessy@acenet.edu