The Daily Cardinal (U. Wisconsin)
(U-WIRE)-The U.S. House of Representatives pushed back a vote on a bill Thursday that includes cuts to financial aid for college students over the next five years. If passed, the measure would cut approximately $50 billion from the federal budget, including $14.5 billion in student financial aid cuts.
Proponents of the bill say that it would ease the federal budget deficit as Congress prepares for a new round of tax cuts. The House plan decreases spending on public programs by $54 billion while setting the stage for about $70 billion worth of tax breaks.
The cuts in financial aid to college students will mostly affect federal student loan programs. According to the Wisconsin zPublic Interest Research Group, the typical student borrower with $17,500 in debt will have to pay an additional $5,800 if the new cuts are put in place.
The vote was delayed as House Republican leaders tried to garner more votes from wavering GOP members.