By
Eric Swedlund
Arizona Daily Wildcat
PHOENIX - Low-income students at Arizona's universities are one step closer to seeing an increase in free state financial aid after a Senate panel yesterday endorsed a bill to increase the financial aid trust fund.
House Bill 2581 would have doubled the state's contribution to the Financial Aid Trust Fund, but an amendment to the bill cut that amount by three-quarters.
The Arizona Financial Aid Trust Fund takes 1 percent of each student's tuition and the state matches that. The bill would increase the state contribution to a 2-1 ratio, but the amendment cut the increase to a 1.25-1 ratio.
The Senate Education Committee advanced the measure by a 6-1 vote. The next step for the bill is an appropriations hearing.
A similar version of the bill originated in the Senate but was struck by an amendment in a House of Representatives committee Tuesday.
The bill was initiated by the Arizona Students Association as a way to raise the state's contribution to students.
During the trust fund's 10 years, ASA executive director Paul Peterson said more than 18,000 students have received $16.6 million in financial aid.
The number of students receiving aid has increased each year, and Peterson said close to 3,000 students will get the aid for next year.
This year, the fund gives about $2 million in free aid to needy students.
The bill has already passed the House of Representatives.
