How would the fiscal cliff affect Minnesota students?

Minnesota Office of Higher Education policy analyst Tricia Grimes has this recap in light of the sequestration-delaying agreement today on the Minnesota State University Student Association website.

I think it’s kind of a what-did-we-just-delay piece:

(The scheduled cuts) would likely include reductions in Federal SEOG Grants and Federal Work-Study. It would also increase student loan origination fees. …

The bill extends the American Opportunity Tax Credit for five years, permanently extends the Student Loan Interest Rate Deduction and tax savings for Coverdell education accounts and temporarily extends (for two years) the above-the-line deduction for tuition and related expenses. The American Opportunity Tax Credit provides a tax credit of up to $2,500 a year for undergraduate education, of which up to $1,000 is refundable for taxpayers for whom the credit exceeds their tax liability.
She credits The Washington Post.