Higher education braces for the worst in debt ceiling fight

Higher education is biting its nails watching the debt ceiling timer tick down in Washington. Colleges and universities are working in the background on contingency plans if the United States defaults, a scenario that would lead to consequences experts say even they can’t fully comprehend, writes Lexi Lonas for The Hill.

While the schools won’t immediately shut down when the debt limit is reached, they will lose significant funding from the federal government, and students will not receive the aid they need, in some cases, to stay in class.

“Unfortunately, in the last several years, colleges and universities and financial aid offices have gotten used to a political game of chicken in Washington, DC, and the potential for federal shutdowns, but this one is just a little bit different,” said Justin Draeger, president of the National Association of Student Financial Aid Administrators. “We use the word unprecedented a lot in Washington, DC, but this truly is one of those unprecedented times, and we would expect major disruptions to federal student aid if we hit the debt ceiling,” he added.
Full report on the AOL site