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12/24/2004:

"Pell Grant Monies Will Be Cut"

College students in virtually every state will be required to shoulder more of the cost of their education under new federal rules for financial aid.

Because of the changes, which take effect in the 2005-06 academic year and are expected to save the government $300 million annually, at least 1.3 million low-income students will receive smaller Pell Grants, the nation's primary scholarship, according to two analyses of the new rules.

Full Article : beliefnet.com