Struggling with budget shortfalls that reach into the billions, several states are making deep cuts in college financial aid programs, including those that provide a vital source of cash for students who most need the money. According to the Salt Lake Tribune, at least a dozen states are reducing award sizes, eliminating grants and tightening eligibility guidelines because of a lack of money. At the same time, the number of students seeking aid is rising sharply as more people seek a college education and need help paying the tuition bill because they or their parents lost jobs and savings during the recession.
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