WASHINGTON -- The proposed compromise between congressional negotiators and the White House to increase the nation's borrowing limit would cut spending by more than $2 trillion, but the deal would also increase federal spending on higher education.The Budget Control Act of 2011 (http://www.scribd.com/doc/61362681/The-New-New-New-New-Debt-Deal), which is expected to be voted on by the House of Representatives on Monday evening, would make subsidized student loans less generous to graduate students, but it would place more money in Pell Grants, which offer financial aid to help students attend college. According to the Congressional Budget Office, the changes to federal student aid would increase direct spending by $7.4 billion during the next four years, but it would decrease spending by $4.6 billion over 10 years.More... (http://www.huffingtonpost.com/2011/08/01/debt-deal-pell-grants_n_915442.html)