Congress Alters Student Lending, Hikes Pell Grants

WASHINGTON (AP) -- Congress has sent President Barack Obama a vast rewrite of federal college aid programs.

The legislation will give more needy students access to bigger college Pell Grants and make it easier for many future borrowers to repay their government-backed loans. The House passed the measure 220-207 as part of an expedited bill that also fixes provisions in the new health care law. Earlier Thursday, the Senate passed the measure 56-43.

The bill, an Obama domestic priority, strips banks of their role as middlemen in federal student loans and puts the government in charge.

With the savings, the government would increase Pell Grants to needy students. It would also increase money to historically black colleges and community colleges.


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  • by BULL Location: FLORIDA on Mar 27, 2010 at 03:27 PM
    THE LAST SENTENCE SAYS IT ALL.
  • by Other Location: PC on Mar 26, 2010 at 08:02 AM
    Of course, increase the funding the the historically black colleges and community colleges, what about all the other ones ones, the ones that aren't concidered a black college, no extra money for them, they just jack up the tution. So are they going to lower the qualifications for the Pell grants too, why not make more people eligible for them, not just the minorities.
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