Post by Logan on Jun 27, 2016 5:22:58 GMT -6
Hundreds of teachers relying on state financial aid programs to help pay off their college debt will receive less help and others none at all because of budget constraints, according to figures released from the Mississippi Office of Student Financial Aid.
Among programs that have been slashed is one that helps Mississippi educators instructing in a critical shortage area or critical shortage subject pay back their undergraduate loans and another that supports public school teachers seeking graduate degrees to improve their current skills in the classroom.
The office, which oversees all state-funded financial aid programs, requested a 24.3 percent increase in appropriations for the new fiscal year starting July 1, but received level funding instead. In a news release, officials said a shortfall of $10.4 million has been projected because the demand for state financial aid exceeds available funds.
Because state statute requires grants for undergraduate students such as MTAG be fully funded before awards can be made to loan programs, the Mississippi Postsecondary Educational Financial Assistance Board voted to suspend payments to certain forgivable loan and payment programs to balance the budget.
Read more: www.clarionledger.com/story/news/2016/06/24/loan-programs-educators-take-hit-budget-shortfall/86334842/
Among programs that have been slashed is one that helps Mississippi educators instructing in a critical shortage area or critical shortage subject pay back their undergraduate loans and another that supports public school teachers seeking graduate degrees to improve their current skills in the classroom.
The office, which oversees all state-funded financial aid programs, requested a 24.3 percent increase in appropriations for the new fiscal year starting July 1, but received level funding instead. In a news release, officials said a shortfall of $10.4 million has been projected because the demand for state financial aid exceeds available funds.
Because state statute requires grants for undergraduate students such as MTAG be fully funded before awards can be made to loan programs, the Mississippi Postsecondary Educational Financial Assistance Board voted to suspend payments to certain forgivable loan and payment programs to balance the budget.
Read more: www.clarionledger.com/story/news/2016/06/24/loan-programs-educators-take-hit-budget-shortfall/86334842/