http://www.cef.org/wp-content/uploads/2011/03/Budget-Response-FY-12-FINAL1.pdfThe above link provides a detailed analysis of each federal program that funds primary, secondary and higher education. It discusses current proposed cuts. It was updated mid March 2011.
For example, in college funding, Obama's budget proposes to completely eliminate the Byrd Honors Scholarshp Program for undergrads (which are distributed through states) and eliminate all Federal subsidies of loans by graduate and professional students. The interest rates of Perkins student loans are proposed to be increased starting in mid-2012.
Things are happening very fast, with existing programs being eliminated from the current year's budget every week.
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