Florida
Colleges Would Receive Increased Student Aid Under GOP
Plan to Restore Fairness to Higher Education Programs
WASHINGTON,
D.C. -- A legislative proposal being readied by Republicans
on the U.S. House Committee on Education & the
Workforce would result in significant increases in
federal financial aid for a number of Florida colleges
and universities, committee leaders John Boehner
(R-OH), Howard P. "Buck" McKeon (R-CA) and Ric Keller
(R-FL) said today.
"The
increase in student aid is much needed help for low and
middle income students at Florida's rapidly growing college
campuses," stated Keller. "I firmly believe that a college
education is a young person's passport out of poverty
and an essential step toward living out their dreams."
House
Republicans recently announced plans to introduce legislation
to bring fairness to an outdated formula used to distribute
federal campus-based student aid among the nation's colleges
and universities. Because of special provisions inserted
into federal law over decades, the current campus-based
aid distribution formula disproportionately benefits
rich, elite or well-established colleges at the expense
of many low and middle-income students attending newer,
often lower-cost schools.
The
House GOP plan, expected to be formally introduced
this spring, would help colleges in Florida that serve
a greater percentage of needy students. Based on a
committee staff analysis of U.S. Department of Education
data, if the Republican plan were in effect today,
these schools could see their campus-based aid funding
for Supplemental Educational Opportunity Grants (SEOG)
increased by almost 3 percent, funding for Federal
work-study programs increased by 6 percent and Perkins
Loans increased by 47 percent. Some increases for Perkins
loans could be as high as 230 percent. The following
estimates show how Florida students and schools would
benefit if the first phase of the GOP plan to restore
fairness to federal campus-based aid programs was in
place today.
Students
and schools across Florida stand to benefit from
the changes.
- FLORIDA
COLLEGES AND STUDENTS WIN: Under the
GOP campus-based aid plan, Florida colleges
and students would collectively receive about $4.2
million more in annual federal funding than they
are likely to receive under the current federal
campus-based aid formula. This funding would
come through the three federal campus-based aid
programs - the Supplemental Educational Opportunity
Grant (SEOG), Federal work-study and Perkins Loan
programs. ·
- Republican
plan helps the University of Miami:
The University of Miami would receive an increase
of $500,000,
bringing funding from $5.2 million to $5.7
million for the three programs, under the more
equitable plan proposed by House Republicans.
- University
of South Florida students would benefit from GOP
Plan: University South Florida students
would see funding for all three programs
increased by $300,000, or 12 percent to
$2.5 million.
- More
than a dozen Florida community colleges, under
the GOP Plan, would receive increases of 10 percent
or more in federal funding for Supplemental Educational
Opportunity Grants. Some would receive increases
over 13 percent.
- Hundreds
more Florida colleges and universities will benefit
from the Republican plan to distribute federal
financial aid funds more fairly. Among them:
- The
University of Florida would receive a 230 percent
increase in federal funding for its
Perkins Loan Program.
- Nova
Southeastern University would receive
a 13.6
percent increase in funding for
its SEOG program and the Republican
plan would more than DOUBLE the
amount of funding Nova receives for
its Perkins program.
- Miami
Dade College would receive $6.5 million in
federal funding, up from $5.8 million,
for all three programs.
- Rollins
College would receive $717,000, an increase
of more than $95,000 for
all three programs.
- Saint
Leo College would gain more
than $130,000,
receiving $888,200 for
all three programs.
- Stetson
college would receive $1.4 million, an increase
of $200,00, for all three
programs.
As
the New York Times noted recently, "[t]he federal
government typically gives the wealthiest private universities,
which often serve the smallest percentage of low-income
students, significantly more financial aid money than
their struggling counterparts with much greater shares
of poor students." ("Rich colleges receiving
richest share of U.S. aid," Winter, NY Times,
09 Nov 03)
The
Republican plan would begin to change this, to provide
fairness for schools that serve larger numbers of low
and middle-income students.
The
National Association of Student Financial Aid Administrators
(NASFAA), which represents the student financial aid
interests of most U.S. colleges, is urging Congress to
end the special subsidies. And in his 2005 budget request,
President Bush called on Congress to provide fairness
for low and middle-income students.
For
further information on House Republican efforts to expand
college access for low and middle-income students, visit http://edworkforce.house.gov/issues/108th/education/highereducation/highereducation.
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