Is the sky falling for college students? Some may feel that way.

On Feb. 18, the House of Representatives passed H.R. 1, which lowers maximum Pell Grant awards by $845. The bill now awaits Senate action.

In efforts to keep the full grant in tact, President Obama’s proposed 2012 budget plan seeks to reshuffle money by making the Pell Grant available only once a year, as well as ending federal loan subsidies for graduate students.

College students are undoubtedly feeling the financial pinch and are wondering whether they can make ends meet. Critics of education spending cuts contend that the bill continues to make college less affordable and, hence, less accessible.

A tough but sound decision

However, spending on Pell Grants have approximately doubled in two years from $16.2 billion in 2008 to $32.3 billion in 2010. Such unsustainable growth in spending needs to be checked.

Moreover, increases in federal aid for post-secondary education contribute to tuition increases. As I have argued before, colleges covertly raise tuition to secure more taxpayer money in the form of financial aid and spend the increased revenue, not for classroom learning, but for lavish amusement.

Although not all colleges are disingenuous, financial aid also incentivizes more students to attend college when they would be better off not doing so: It is always easier to imprudently spend someone else’s money.

A recent study documents the increasing number of college graduates that are now holding jobs that do not require a college degree, suggesting that the government has over-invested in post-secondary education. Further, a Harvard study argues a traditional four-year degree is not a necessary condition for life success.

Closer to home at Biola

Meanwhile, Biola will be raising its tuition by $1,000 for the upcoming year. This is probably not the most thrilling news for most students. At the risk of sounding trite, times are tough. Yet this is not the time to be downcast or anxious.

Remembering Biola’s heritage

Tough times are not new to Biola. The university has been tested through the Great Depression and other times of apparent lack. But as a community that consists of the people of God, Biola has always possessed privilege and access to an abundance of resources from heaven. God has always honored Biola’s obedience to accomplish the purposes for which he established the university.

Likewise, God honors the individuals who faithfully follow and trust in his perfect leadership and abounding goodness. Government aid may dry up, but we worship God, not the government, as our Jehovah-Jireh.

Our stewardship calling

However, faith does not absolve us, the Biola community, of responsibility to help each other and those who do not attend our school. While government slashes funding, many individuals still need assistance.

This is a prime opportunity for us to arise and store up treasures in heaven. As the church, we have too often conceded our eternal reward and dimmed our own witness by letting inefficient government programs do what we were called to do.

Individual generosity, charity, and faithful stewardship have sustained Biola for over a century. Private enterprise from Lyman Stewart started the university. Since then, diamond rings, Wall Street investments, and multi-million dollar gifts have nourished its growth. Today, Biola continues to expand, and we have an opportunity to sow into God’s purposes for the school.

Let us consider how we can steward the wealth that God has entrusted to us. Let us be a witness by showing how we love one another. Let us personify the hope that the kingdom brings with our charity. Let us reflect the graciousness of God with our giving.

So, yes, the sky is indeed falling on college students, except it does not mean catastrophe. It means that heaven is coming to earth because the church is manifesting her true generous nature. May we — Biola’s current students, alumni, and staff — make it so.

Personally, I will start by visiting http://giving.biola.edu. Does anyone else want to join me?