Covering the sequester – where to start

CAPTION

401(K)2013 via Creative Commons

As is to be expected, the sequester will affect different schools differently. Here are a few resources to get you started.

The National Association of Student Financial Aid Administrators has released a school-by-school review of sequester impacts on college campuses. According to a useful map from Business Insider, Massachusetts is set to lose $46.55 million in education funding. At Framingham State, though, we seem to be in the clear due to “base guarantees” of federal aid in the Higher Education Act. The Policy Archive does a pretty good job explaining how this works.

Which our Executive Vice President and go-to school finance interviewee has corroborated via email (edited slightly.)

As noted, the sequestration won’t have a significant direct impact on FSU.  While a couple of smaller federal aid programs may be impacted this fiscal year, we anticipate being able to accommodate any adjustment.  The potential biggest issue for the University is on Pell Grants; fortunately, they are excluded from the sequestration for this fiscal year.  We will monitor the development of the federal budget going into the next fiscal year as it relates to Pell grant funding as that may impact local decisions on funding for University-provided financial aid.

Hamel told me that our school administration is watching out for cuts to federal work study support in the coming months, but said FSU is prepared to make up for any shortfalls with university funds.

That’s how it worked here, but the situation may be different at your school. Start here, follow-up with administrators and keep your ears to the ground.

Advertisements

About spencerbuell

Editor-in-Chief, The Gatepost student newspaper at Framingham State University.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s