Colleges cut spending, raise funds as new loan limits for parents loom

Colleges and universities are cutting spending and raising funds in response to new federal loan limits for parents. These institutions, particularly Historically Black Colleges and Universities (HBCUs), are working to address a potential funding gap. The changes stem from a cap on the amount families can borrow through the federal Parent Plus program. This initiative aims to mitigate the financial impact on students and their families. The measures indicate a proactive effort by colleges to adapt to evolving federal student aid policies.