College aid cuts will send parents and students scrounging - Elvina Nawaguna, Reuters

College students dependent on work-study programs and federal grants will have a hard time making up for reduced funding in the new school year as federal budget cuts take hold. The so-called sequester officially kicked in on Friday, stripping millions of dollars from several financial aid programs that colleges and universities rely on to entice students. The biggest cuts - about $86 million - will be to the Federal Work-Study (FWS) and Supplemental Educational Opportunity Grant (FSEOG) programs, which help low-income students pay for undergraduate education, according to data from the Office of Management and Budget. In addition, students will see a small increase in student loan origination fees, which will total $82 million. Other indirect effects could come from a $71 million cut to student aid administration funds. http://news.yahoo.com/college-aid-cuts-send-parents-students-scrounging-211205922--business.html