Cuts to student aid passed by Congress in February have created a storm of backlash. The Budget Reconciliation Act of 2005 barely passed due to concerns about how it achieved $39 billion in federal savings. In addition to cutting Medicaid and Medicare, students and parents will face $12 billion more in student aid costs.

Stafford Student loans will go from variable rates to a 6.8% fixed rate, the highest rate since 2001. PLUS Parent loans will go to 8.5%. The Act also reduces incentives for lenders.

Perhaps most unpopular is that the federal savings from the Act will go to deficit reduction. With the tax cuts on the books, it lends the appearance of students and parents being asked to pay for tax cuts to the rrich. Not usually a winning proposition.

The story of Margo Alpert and her $55,000 in student loan debt to be paid over 30 years is not uncommon. Having $500 to $600 taken out of your paycheck every month is equated with debtors prison. While this is a little melodramatic, it's not far off.

The State PIRGs have information about student aid on their site.

The United States Student Association expressed outrage.

Even USA Today has an article.

For a great discussion of student debt and other financial pressures on young adults, I recommend Strapped by Tamara Draut.