This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

How Budget Cuts Could Affect You

â¿¿EDUCATION

Some college students could lose hundreds of dollars a year, according to a coalition of universities and college professionals. The 77-member Student Aid Alliance says the cost could total as much as $876 a year in new fees, fewer work-study hours and reduced grants for students receiving federal aid.

Some 70,000 students enrolled in pre-kindergarten Head Start would be cut from the program and 14,000 teachers would lose their jobs. For students with special needs, the cuts would eliminate some 7,200 teachers and aides.

The Education Department is also warning that the cuts will impact up to 29 million student loan borrowers and that some lenders may have to lay off staff or even close. Some of the 15 million college students who receive grants or work-study assignments at some 6,000 colleges would also see changes.

â¿¿CONGRESS

Congressional trips overseas likely will take a hit. House Speaker John Boehner, R-Ohio, told fellow Republicans that he's suspending the use of military aircraft for official trips by House members. Lawmakers typically travel on military planes for fact-finding trips to Afghanistan or Pakistan, or other congressional excursions abroad.

â¿¿TAX COLLECTION

Any furloughs at the Internal Revenue Service will be delayed until summer, after the tax filing season ends, so the agency says it shouldn't delay tax refunds. But other IRS services will be affected. Millions of taxpayers may not be able get responses from IRS call centers and taxpayer assistance centers. The cuts would delay IRS responses to taxpayer letters and force the agency to complete fewer tax return reviews, reducing its ability to detect and prevent fraud. The IRS says this could result in billions of dollars in lost revenue to the government, complicating deficit reduction efforts.

â¿¿LABOR

More than 3.8 million people jobless for six months or longer could see their unemployment benefits reduced by as much as 9.4 percent. Thousands of veterans would not receive job counseling. Fewer Occupational Safety and Health Administration inspectors could mean 1,200 fewer inspections of dangerous work sites.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
4 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs