Word: budgeted
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...federal budget of the 1986 fiscal year would have slashed financial aid funding, capping money allotted per student on federal grants and loan aid to $4000 and establishing an income ceiling of $32,500 for guaranteed student loan eligibility. The cuts also included a $2.3 billion reduction in financial aid spending. Additionally, the Reagan administration proposed significant cuts to National Institutes of Health funding, one of Harvard’s largest sources of science funding...
...February 1985, college students were banding together through the Boston Area Student Coalition to organize rallies, postcard-writing campaigns, and petitions to reject the budget proposal. The $32,500 guaranteed student loan cap alone could have impacted two million students nationwide, according to Crimson coverage. Harvard dining halls filled with volunteers from the Undergraduate Council and Radcliffe Union of Students handing out postcards to send...
...local rally took place on March 14 of 1985, bolstered by statements of support by the late Mass. Senator Edward M. Kennedy ’54-’56, then-Boston Mayor Raymond L. Flynn, and former Representative Silvio O. Conte. The day after the rally, the Senate Budget Committee officially opposed the Reagan Administration’s proposal for cuts to financial...
...dramatic turn of events, cutbacks in federal financial aid were excised from the Senate budget plan...
Though the University had weathered the budget storm, the fight can never truly be over, Nixon said...