and needy college students, too. From the Obama budget proposal:
Pell grants for needy college students would be eliminated for summer classes, and federal loans to graduate students would start accruing interest immediately, rather than when the students graduate, though they would not have to begin paying them off until graduation. Those changes are intended to help save $100 billion over 10 years to offset the costs of maintaining Pell grants for 9 million students, according to administration officials.
Someone needs to pay for Pell grants, so it has to be needy college students and graduate students. (The $544 billion for 2 years of Bush tax cut extension or the $300 billion/3yr AMT fix -- that's different money.)
update: of course the Republican proposal is worse: Chronicle