Grant Process Closed on Strengthening Institutions Program
Grants are an important source of funding for any institution and organization in need of money. Not only do grants help students defray the cost of attendance, they also help colleges keep their tuition costs in check because awarded funds can help strengthen developing academic programs.
According to a Jan. 30, 2007 article written by Elyse Ashburn titled “Education Dept. Won’t Open Grant Process This Year for Program Serving High-Need Institutions” that appeared in The Chronicle of Higher Education, “The U.S. Department of Education announced on Monday that it would not take new applications this year for the Strengthening Institutions Program, which provides grants to institutions that predominantly serve students from low-income families.”
With all the talk on Capitol Hill about slashing student loan interest rates and raising Pell Grants in a bid to help more low-income students achieve the dream of a higher education, this move by the Department of Education seems somewhat counterintuitive.
Grants Still Being Awarded
It is to be noted, however, the Department of Education will still award grants this year. It is just the “process” of accepting new applications that is being nixed. Ashburn reported, “The department instead will award grants to 2006 applicants that were of high quality but did not make the cut last year.”
Basically the thinking is that by not opening the review “process,” all monies available will be awarded as grants, with none going to pay for the manpower to review the applications. However, Ashburn goes on to report, “advocates for community colleges, which are the primary beneficiaries of the program, questioned the fairness of that approach and said that a new application process should be held.”
Ashburn quoted David S. Baime, vice president for government relations at the American Association of Community Colleges, as saying, “Community colleges across the country will be disappointed to learn that the department is not holding a new competition for this program.” Baime explained, “Simply dusting off last year’s applications and going down the list seems quite unsatisfactory from a good-government point of view.”
Where the Funds Go
So, in the long-run there, institutions that did not receive grants from the Strengthening Institutions Program last year, will be receiving funds this year, which although might not seem fair to all, is at least helping the community the grants were intended to help. Ashburn wrote, “Grants from the program can be used for a variety of projects, including improving faculty development, establishing endowments, and strengthening academic programs. The program received about $80-million in the 2006 fiscal year. Congress has not finalized its 2007 allocation.”
To find out more about free money, check out NextStudent’s Scholarship Search Engine: http://www.nextstudent.com/scholarship_search/scholarship_search.asp. And remember, the key to finding free money to help fund your college education is to search early and search often.
It is important to keep up to date on the effects of legislation and news on student loans and education. What goes on in government and in your state can have a great impact on your student loans and your college education.
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Be sure to tune in next Wednesday for my next blog on student loan legislation in the news.
Student Loan Girl