Deficit hawks in the U.S. Senate seeking to force their colleagues to offset the costs of extending the Bush-era tax cuts tried on Wednesday to kill off funds that help college financial aid offices cover the costs of providing federal grants to students. But in passing the tax bill, senators defeated the amendment by Sen. Tom Coburn (R-Okla.) to eliminate the "administrative cost allowance," which provides a $5 payment to participating colleges for each student who receives a Pell Grant for an award year. "Many schools -- particularly those serving the greatest numbers of low-income students -- depend on these funds to staff, train, and fund their financial aid office operations," Justin A. Draeger, president of the National Association for Student Financial Aid Administrators, said in a news release urging senators to reject the amendment. "Such cuts would have a dramatic negative effect on institutions' ability to serve students." The tax bill, as passed in the Senate, includes several provisions important to colleges.
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