Making good on a statement he made in his 2011-12 budget address about the need to find a new funding model, Gov. Tom Corbett chose to invest the new money he put into higher education into students.
His budget would provide $25 million for a merit- and income-based aid program called Ready to Succeed scholarships that would be administered through the Pennsylvania Higher Education Assistance Agency. In addition, he would maintain funding for the state’s need-based grant program at the current $345 million, which PHEAA would supplement with $75 million from its earnings off its loan servicing business.
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