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Feb 8, 2013 7:42 PM by Erika Flores

Financial aid could be in jeopardy come March

TUCSON - More fallout from the fiscal cliff now hitting college students who may soon see major decreases in their financial aid.

For most students it takes a bit of homework to find the cash for tuition filling out forms, meeting with financial aid advisors, but it could get trickier, if the federal government goes ahead with its financial aid cuts.

Applications are in.

"I've already applied for a few grants," said UA student Terry Daniel

The first batch of award letters has been sent.

"They do help," said UA student Dean Samuel.

Las year, $236.7 billion were distributed in grants.

Forty-four percent of that came from the federal government.

"A lot of students here really depend on those," said Liz De La Fuente.

Thirty-seven percent of all grant aid came from colleges and universities, nine percent from state governments and ten percent from employers and other private soures.

But by March, there could be an 8.2 percent cut to federal student aid programs.

37% of all grant aid came from colleges and universities, 9% came from state governments, and 10% came from employers and other private sources.

"It's going to make it a lot more stressful for a lot more students who are still continuing their education trying to get a degree," said De La Fuente.

Congress voted to delay the cut until March.

"But that's only if we go over the cliff," said John Nametz, executive director of the UA's scholarships and financial aid.

The cuts could reduce supplemental education opportunity grants, federal grants and federal work study programs.

"I've already received my award letter. I can't imagine getting another saying sorry you're award is gone," said UA student Zoe Mullins.

But Nametz said the university already has a plan in place in case the government goes through with these cuts.

"Regardless of what happens over the cliff or not, we're going to stand by these," said Nametz.

He said they would pull the needed resources from over a dozen funds available.

"There's money everywhere, so you just have to have to find it," said Daniel.

If you have questions about financial aid, you can talk to a financial advisor or go to one of the workshops on February 21 or 28 from 6 to 8 p.m. in Harvill Building, Room 305 at the University of Arizona.

For more financial aid information:

http://www.collegeboard.org/

http://www.fafsa.ed.gov/

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