on Tuesday, October 1, 2013
For the first time in nearly 18 years, the U.S. government shut down this morning because of Congress's inability to reach a deal on the federal budget before today's October 1 start of the 2014 fiscal year. News reports estimate the shutdown will stop 800,000 Americans from getting paid and could cost the economy about $1 billion a week. The last time it happened, during the Clinton administration, the stalemate lasted 21 days.
How will the shutdown affect The University of Texas System?
“In the short term, UT System will feel little effect from the government shutdown as current funding for federal grant research is already in place. However, if a compromise is not reached, there could be impact on federally funded research in the long term. Also, students may see delays in federal loans and grants as personnel who process those are furloughed. We’re hopeful that Congress reaches a compromise soon so the impact will be minimal,” said UT System Spokeswoman Jenny LaCoste-Caputo.
In the meantime, below are some helpful links posted by Inside Higher Ed to contingency plans for various agencies important to colleges, their students and their employees: