Colleges and universities are bracing for steep spending reductions in student aid and research funding due to the looming sequestration process. Financial aid offices are scrambling to offset the drop. University researchers say they're already seeing delays in federal grant making.
This is MORNING EDITION from NPR News. I'm Renee Montagne.
LINDA WERTHEIMER, HOST:
And I'm Linda Wertheimer.
When people talk about the deep federal budget cuts, that are scheduled to take effect on Friday, they often come back to the same phrase. It's popped up on our air dozens of times in the last few weeks.
Most Americans are earning more money than their parents, according to a new study from Pew's Economic Mobility Project. But those gains don't tell the whole picture.
Let's start with the good news. The Pew Charitable Trust study looked at actual pairs of children and parents. Around age 40, 83 percent of the children were earning at least a thousand bucks more than their parents were when they were 40.