Kentucky education officials mull dire effects of fiscal cliff
- The Kentucky Department of Education says fiscal cliff spending reductions would be devastating for the state's public schools, leading to spending reductions of up to $61 million per year for the next decade and affecting 1,350 jobs and almost 130,000 students.
- According to Kentucky Education Commissioner Terry Holliday, if the issue isn't resolved, school districts will have to look at significant staff reductions in all federal programs when making employment decisions in early spring, while Jefferson County Public Schools' CFO Cordelia Hardin says her district would lose $7.1 million, leading to larger class sizes, four-day school weeks, teacher layoffs, and more.
- University of Louisville CFO Mike Curtin says the automatic cuts would reduce the school's funding from agencies like the National Science Foundation and the National Institutes of Health, and that financial aid would be hit with cuts to access programs like Gear Up, as well as future cuts to Pell Grants and an increase to 7.6% on origination fees on Stafford Loans.
From the article:
Spending reductions caused by the fiscal cliff would be devastating for Kentucky’s public schools, officials say. According to the Kentucky Department of Education, federal funding for public schools would be reduced up to $61 million per year for the next 10 years, affecting more than 1,350 jobs and nearly 130,000 students. ...
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