Financial Aid Cuts Approved by State Board
By Anthonia Akitunde in News on Jun 27, 2009 8:45PM
It’s getting harder out there for Illinois students who attend public universities.
The Illinois Student Assistance Commission voted Friday morning to cut funding for this fall and for the spring 2010 term because of the state budget crisis, the Chi-Town Daily News reports.
Since the commission will not meet until September, after financial aid grants must be distributed, it wanted to make a decision based on a “worst-case scenario” - only receiving the money allotted in the budget as it currently stands.
Chi-Town Daily reports around 137,000 students - counting the “tens of thousands” in Chicago - will receive need-based grants at a 15% reduction, getting $850 for every $1,000 they were originally granted.
The commission, which handles financial aid for students in public universities, was already working under financial strain before the budget crisis hit. According to the report, it had to turn away 130,000 students’ applications for aids and received its highest requests for grant aid. Students will either have to secure private, high-interest loans or employment after classes.
Although all members expressed disappoint over the financial crisis, only one member, student commissioner Kevin Wing, voted against it according to Chi-Town Daily.
“ ‘What are the state’s priorities? We are taking out the foundation of our state,’ Wing said before voting. ‘I believe the legislators have failed the students of this state.’”