Local opinion: Gutting financial aid will not balance any budget

Access to college education is currently under surreptitious attack. Under the radar, rules are changing and few of us are paying attention. College costs continue to rise, while wages stagnate. Carefully crafted grants and loans strategically meant for lower- and middle-class students are being chiseled away by new, seemingly benign Department of Education (DOE) rules and policies.

Pell awards are now $7,395 max, but rising college costs far outpace federal funding increases, leaving a large gap for students to cover. Pell grants used to cover 75% of the cost of attending public four-year institutions; now they will only cover 27%.

Under the guise of addressing abuse and balancing budgets, help will be denied to those who need it most.

The upcoming budget will reduce available aid to more than 7 million current recipients, mostly from families with incomes less than $40,000 per year. Ultimately, this will prevent those who most need financial aid from attending colleges, universities and professional schools.

According to the U.S. DOE data, 43 million Americans carry $1.83 trillion in total student loan debt. These numbers reflect students who were able to attend college due to financial aid, and whose lives were changed as they moved into higher-paying careers, otherwise out of reach. Most importantly, this data reflects the supported development of physicians, nurses, educators, entrepreneurs, thought leaders, and other professionals critical to our society.

Our country has benefitted exponentially from an educated workforce able to live better than their previous generations. Make no mistake, significant federal student loan cuts and caps enacted on July 1, 2026, under the “One Big Beautiful Bill” will have a chilling effect.

Parent PLUS loans have been cut. Dependent undergraduate students are now limited to $20,000 per year in loans and a $65,000 lifetime limit for parent loans. Surprisingly, lawmakers also propose cutting other forms of student aid, including subsidized student loans and Work-Study programs.

Dramatic cuts will gut life-changing graduate and parent loans. Historically, these programs helped graduate students with unmet financial need and those unable to meet their student contribution. Lowering borrowing limits and eliminating programs like Grad PLUS and SAVE, along with interest rate protections, will close the door to education for many.

Lower graduate student loan limits will also keep some from applying or earning graduate degrees. Graduate loans are now limited to $20,500 per year and a lifetime total limit of $100,000. Professional student loans, including law and medical school, are now capped at $50,000 per year and a $200,000 total. This total is in comparison to the lowest-end medical school cost of $320,000 for four years.

Recent changes will also keep some of the brightest, most capable students from attending the best schools due to sticker shock. Students with deep pockets will be even more advantaged to attend the most elite colleges and universities, including professional schools. This will effectively limit access to those with the most financial means.

As financial aid is cut and minimized, DOE propaganda makes new rules and regulations seem like they will help students in need. Clearly, they will not.

Cuts, changes and elimination of aid will create formidable challenges for students who struggle with increased tuition, housing, food, and transportation costs yet might be the best, brightest and most hardworking students. Recent changes will make college education unreachable for our most needy and maybe even our middle-income students.

It is time for misinformation to be corrected and clarified along with a clear discussion about the true effect these policies will have. As education costs continue to spiral while financial aid is cut, we must call on Congress to fully fund the Pell Grant program, protect student financial aid, and increase the maximum amount of Pell Grant awards, along with graduate and professional funding. If you or someone you know has benefitted or could benefit from financial aid, reach out to members of Congress. Let them know how critical financial aid is for individuals and communities to prosper. Make 30 seconds to leave a message; tell them to fund financial aid and help make college more affordable and more accessible for all, not less!