Tip of the Week
The ups and downs of funding
If you weren’t buckled in your seat, you might have been shaken up a bit.
For those in higher education (and for many others as well), yesterday was a day that turned out to be one heck of a roller coaster ride.
News trickled out early Tuesday morning that the Office of Management and Budget (OMB) had issued guidance to federal agencies, directing a temporary pause on any federal financial assistance programs implicated by Executive Orders. Lots of conversations and even more questions popped up throughout the day both online and offline.
Then, late in the day, a federal judge halted the freeze on federal aid programs, but that order ends next Monday. The freeze – although temporary – does give everyone some time to catch their breath and process the order.
In an Electronic Announcement issued Tuesday afternoon, The U.S. Department of Education said it is currently reviewing the full impact of the memo, adding that “per the memo, the pause does not impact ‘assistance received directly by individuals.’ This includes Title IV, HEA funds, which are provided to individual students.”
While the full impact of the freeze is not yet known, the good news is that Pell Grants and student loans will continue to be available to those pursuing their education.
And that news makes the ride a little smoother.
