By
Eric Swedlund
Arizona Daily Wildcat
Senate, House both support increase but differ on amount
PHOENIX - The state House of Representatives yesterday approved a measure to double the state's contribution to the student financial-aid trust fund.
House members voted 38-17 in favor of the measure, House Bill 2581, which was amended to give about $2.4 million to the fund in each of the next two years.
The Arizona Financial Aid Trust Fund takes one percent from each student's tuition, which is matched by the state, and distributes half the money each year to students in the form of need-based aid. The other half is retained by the fund each year.
The original bill would have increased the state's contribution to two percent. The amended version of the bill reflects the two percent but specifies the exact appropriation for each year.
Paul Peterson, executive director of the Arizona Students Association, said that after a lot of work lobbying legislators on behalf of the measure, he is happy to see the bill advance.
"It's awesome, I couldn't be happier," Peterson said. "It's great when your work comes to fruition."
Last week, the Senate passed its own version of the measure, but amended it by cutting the increase in the state's contribution from a 2-1 ration to a 1.25-1 ratio.
This year, low-income and under-represented students received about $2 million in free aid. As funds increase next year, Peterson said close to 3,000 students will receive a portion of the free aid.
Over 10 years, the fund has given about $16.6 million to more than 18,000 students.
Peterson said that he will work with lawmakers from both houses to find a compromise somewhere between the two recommendations.
Peterson added that an increase in the financial aid trust fund has the support of the state's Department of Education, and he said he hopes Gov. Jane Hull will back an increase as well.
