Next Tuesday, February 15, President Obama is expected to release his fiscal year (FY) 2012 budget request to the 112th Congress. 

The budget will contain proposed funding levels for student aid programs for the academic year 2012-2013. Many of these funding proposals face proposed reductions.

The release of the FY12 federal budget will be the first step of a lengthy and complex annual budget process that will last through July 2011.

It is important to note that Congress has yet to resolve the FY11 budget.  As a result, the federal government is funded by a Continuing Resolution that is set to expire on March 4. Upon its expiration Congress must pass either another resolution or an omnibus spending bill that contains all 12 appropriations bills.

Under this timeline FY11 and FY12 budget negotiations will occur at the same time. The