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"Don't Bank On It:" Higher education aid drops sharply

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posted on Jun, 13 2009 @ 06:23 AM
With a cut cut here and a snip snip there, here a cut, there a snip, every where a snip snip...ole macdonald useda have a university, EIEIO.

Looks Like school aid is getting slashed...meanwhile Timmy Geithner is telling congress with a straight face that the bailouts for the big banks "may never end." Education, as usuall, get the short end of the stick.

Don't Bank on It
June 11, 2009
Taseen Peterson is a portrait of the recession. A single father who worked as a loan officer in the mortgage industry, Peterson decided to go back to school as the real estate market dried up, figuring he’d ride out the downturn in college and come out the other end with a credential that would get him a higher paying job.

A resident of Newark, N.J., 26-year-old Peterson chose to attend Berkeley College, a for-profit institution just up the street from his house. While he’s had to juggle being a dad and a student, Peterson has taken enough online and evening classes to potentially graduate in fewer than four years. There’s a new wrinkle in the plan, however, given a proposal in Gov. Jon Corzine’s budget that would cut financial aid for students at proprietary institutions.

“Now I’m in school; I mean to stay here. I love it. It’s like I was built for this,” said Peterson, who is student president of the college’s New Jersey campuses. “And my education, I guess, is being jeopardized with the governor’s proposal. And it’s kind of scary because now I’ve built up some debt while I’m here. I have this debt, and there’s no turning back now.”

Stories like Peterson's are likely to play out across the country, as state legislatures look in every nook and cranny for areas to cut. While few states have made outright declarations that they may end major aid programs altogether – California being a notable exception – several are tweaking eligibility requirements or changing the scope of aid programs to reduce costs.

More at source

posted on Jun, 13 2009 @ 11:31 AM
We increased the military spending however.... I guess there's always room to increase the military spending and to provide and never ending $700 billion line of credit for the banks.

posted on Jun, 13 2009 @ 11:35 AM
Idiocracy here we come!

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