Government to cut student services to pay for Katrina

The federal government would like to cut spending instead of raising taxes to pay for the rebuilding of Hurricane Katrina ravaged areas.

One item they would like to eliminate is to do away with all subsidized student loans for graduate students. This would mean that if you already have a degree and you decide to go for your masters and doctorate degrees, you will be paying the interest on all of your student loans while you are in school. This will supposedly save 8.5 billion dollars over the next 10 years.