The levels of cuts required by sequestration to the TEACH Grant and the Iraq-Afghanistan Service Grant programs have been recalculated. In an Electronic Announcement posted Friday, April 26, the Department of Education advised schools of the new percentages by which these grants must be reduced:
Schools must revise any reduced awards already disbursed to reflect the student’s new eligibility, and disburse the difference.
As previously announced, sequestration cuts only affect grants for which the first disbursement is made on or after March 1, 2013 (regardless of the award year for which the grant is awarded).
Publication Date: 4/29/2013