Magazine article Black Issues in Higher Education

Washington UPDATE: 1997 GOP Budget Seeks Few Education Cuts

Magazine article Black Issues in Higher Education

Washington UPDATE: 1997 GOP Budget Seeks Few Education Cuts

Article excerpt

Washington UPDATE: 1997 GOP Budget Seeks Few Education Cuts.

A new Republican budget blueprint bearing the stamp of outgoing Senate Majority Leader Bob Dole (R-KS) contains few of the cutbacks for higher education first proposed by GOP congressional leaders last year.

Dole, the GOP's likely presidential nominee helped unveil the plan that would protect most student aid programs and maintain the in-school interest subsidy for college students. GOP leaders in the House of Representatives last year raised the specter of cuts in aid programs and the interest subsidy to reduce federal education spending.

One of the few cutbacks proposed in this year's plan is in direct loans, where Republicans would cut loan volume from a projected 50 percent to only 20 percent next year. The plan would face likely opposition from the White House, which views direct lending as a less-costly alternative to bank-financed loans.

Many colleges and universities with a large number of low-income students participate in direct lending as a way to gain more control over student loans and loan defaults. …

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