UNM graduate students will have fewer options for financial aid next year. As part of the Budget Control Act, the federal government will eliminate subsidized student loans for graduate and professional students beginning July 2012.
At an August 9 Board of Regents meeting, GSPA President Katie Richardson urged the board to keep graduate students in mind when considering tuition and fee increases.
“The elimination of the subsidized student loans has effectively raised tuition for graduate students,” she said.
Subsidized student loans do not accumulate interest while the student is enrolled in college. Richardson said the loss of the aid amounted to a national tuition increase of $21.6 billion over the next ten years for graduate and professional students nationwide.
“I fear that soon only those who are economically able to do so will pursue graduate studies,” Richardson told the board.
She said keeping graduate degrees affordable is one of her highest priorities as GPSA president, and she is committed to protecting financial aid opportunities for graduate students.
“Fewer students may choose to attend graduate school, which means a loss of diversity on campus, and that’s a shame,” she said.
During the meeting, the board passed Richardson’s motion to approve a revised version of the GPSA constitution and bylaws.
Richardson said that in the new document, the constitution and the bylaws are separate from one another and more clearly worded, the branches of government are more clearly defined with their own articles, and there is direct representative financial oversight. GPSA members can also now directly bring referendums to the body. She said GPSA approved the revisions last April.
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