STLtoday.com reports that one of the ways to cut back overspending in the federal government, includes cutting all summer Pell Grants starting next year. They also said Pell Grants are available for low income students and as the economy continues to falter, more and more students qualify for the grant, increasing the amount of money going into the fund.

“Taking away the opportunity to get the Pell Grants, I think, is a horrific mistake because it limits students’ access to higher education,” Biochemistry senior Elizabeth Capt said.  “I think that for students coming from a lower social economic background, it limits their opportunities and future.”

But while the focus is currently on cutting Pell Grants for the summer, cuts may extend into the normal school year.  According to the Iowa Indepen•dent, U.S. House Republicans want to cut $64 billion in Pell Grants over the next 10 years, including a 30 percent reduction in 2014.  Republicans also want to cut the maximum Pell Grant award to $3,040 from $5,550, the lowest amount the Grant has been since 1998.  However, President Obama’s proposed 2012 budget would keep the school year grants at the $5,550 amount.

Schoolgrantsources.com estimates that over nine million students receive some sort of award from the Pell Grant fund, with those showing the greatest need getting the greatest amount. Animal Science freshman Sarah Boutwell is worried the cut in financial aid could affect the schooling of her future.

“I may not be able to come back,” Boutwell said. “Financial aid is a big part of the package for me. Financial aid is pretty much the reason I can come. I also feel that if aid is cut, fewer students will be able to attend, which will raise the cost of college and it will be a spiraling affect that will hurt everyone.”

The Huffington Post reports that public assistance is a major part of many students’ financial planning for school, with millions of students on financial aid.

According to The National Association of Student Financial Aid Administrators, although only Sum•mer Pell Grants are being eliminated at this time, the prospect of lowering Pell Grant awards for the school year may cause even more students to suffer the consequences.