Budget constraints force HOPE to slash the book allowance
GEORGIA -- Students receiving the Hope Scholarship may want to put books on their Christmas wish list, because funding has now been cut in half.
The Georgia Student Finance Commission announced that effective July 1, 2011 Hope Scholarship recipients book allowance has been cut in half. Students receiving $150 a semester will now receive $75 a semester. Students receiving $100 a quarter will now receive $50 a quarter.
The only exception to the change will go to students who are eligible to participate in the federal Pell Grant program.
The change in HOPE budget comes as HOPE Scholarship spending out paces the income revenue from the lottery which funds the scholarship.
Officials warn there could be more cuts to the program in the future to books and the amount of overall aid given.
For a link to the official letter about the reduction in book allowance click here.
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