Did Congress just approve a bill to ELIMINATE Pell Grants?

[mistertrickster]

I heard this on my local newscast last night.

Since this is a federal program, I'm assuming that the reporter is referring to the US House & Senate. Unfortunately, he wrote it with such a hokey human interest slant, that I not only didn't get important information, but I can't successfully google it.

Any links or info you've got would be much appreciated.

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http://kwch.com/servlet/Satellite?pagename=KWCH/MGArticle/WCH_BasicArticle&c=MGArticle&cid=1031779281503&path=

"The House and Senate want to save money. So Saturday, they approved a bill that could eliminate those Pell Grants, meaning students could lose $300 million in free money every year.

"More than half of those students come from families that make $35,000 to $40,000 a year; not enough to pay for tuition that's increased 10 to 20 percent in just the last year."

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On edit--Pell grants are probably the most important program we have left to help poor(er) students afford college. It's not a loan--it's a grant, so it doesn't mire them in debt just when they're starting their careers.