By Courtney Connley

“Congress has announced that it will cut $303 million in Pell Grant funding in order to free up their budget to pay companies that collect student loans on behalf of the Department of Education. Created in 1972, the federal program awards money to students whose household income is typically $30,000 or less, with nearly two-thirds of African American students benefiting from the program and 51 percent of Latino undergrads.” Read more here.