Watch this little diddy by truemajority.org - This is good stuff. Join.
If you think that taking away from the pool of money available for student loans to pay for the war is more than spitting in the ocean, then you need to wake up and smell the cookies.
included in budget cuts are federal student aid subsidies. $12.7 billion will be cut from the subsidies for underprivileged college students.
If these are loans and the people who borrow the money actually pay it back, then why do we need to continue to add to the amount of money available for loans? Why? Because the money doesn't actually go to the students. Nope, that $12.7B would have been used for subsidies so that the banks could afford to loan the money at 5.3% interest rates (parent rate). Now, they'll be lending the money at 6.8% and not getting a kick-back from the tax-payers.
The fact of the matter is, those who are most in need of the money will still have grant money available. That's not going anywhere. Further, those students who will be majoring in science, math, technology, engineering, or a foreign language will be eligible for an NEW GRANT of up to $4,000 - in addition to the already available PELL grant.