Tuesday, March 23, 2010

Huge WIN for Students (and all of us) in Reconciliation Bill

Not only do we now have Health Reform (badly needed!) but we also have a LOT more going students' way (and our culture and society, too) through the passage of this reconciliation bill. Namely:
  • $36 billion in new spending to Pell Grants
  • Eliminating private banks in issuing student loans, now providing Direct Loans from the government (savings the government $61 billion, which can be used to support citizens rather than private lenders)
  • $4 billion to historically black colleges and community colleges
  • providing $1.5 billion to make it easier for student borrowers to repay their loans (income based repayment that Pres. Obama spoke of in the 2010 State of the Union address)

CREDO Mobile A huge win for students in last night's reconciliation bill. If it passes the Senate, billions of dollars will now go to education instead of big banks! Hurray!

WASHINGTON — Riding the coattails of a historic health care vote, the House on Sunday also passed a broad reorganization of college aid that affects millions of students and moves President Barack Obama closer to winning yet another of his top domestic policies. ...

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