We at the Campaign for America’s Future congratulate the Senate today for passing historic student-loan reform, via a budget reconciliation bill that also contains historic health-care legislation. This reform ends wasteful billion-dollar bank subsidies with a shift to federal direct lending, and invests much of the savings to students. more »
President Obama’s 2010 budget would transform the federal financial aid system that struggling students and families rely on to pay for college. The proposed budget cuts excessive lender subsidies, moves to more efficient direct lending instead, and invests the savings in students. Our report examines the impact, for the entire country and for students in each state.
On January 1, 2009, former Senator Claiborne Pell (D-RI) died at the age of 90. Known as the “father of Pell Grants,” Senator Pell was instrumental in helping low and moderate income students attend college, with the creation of Basic Educational Opportunity Grants in 1972, which were renamed “Pell Grants” in 1980. more »
nytimes.com — Bush administration officials to warn Congress that the most important federal aid program, Pell Grants, may need up to $6 billion in additional taxpayer funds next year. Driving the increased applications for federal aid, in part, have been nontraditional students returning to school to improve their job skills during the economic downturn. Estimates by the Department of Education suggest that the new president will face an unusually burdensome financing shortfall or the fallout that would accompany trimming the nation’s leading college aid program.
Delicious
Digg
StumbleUpon
Propeller
Reddit
Magnoliacom
Newsvine
Furl
Facebook
Google
Yahoo
Technorati
President Obama’s 2010 budget would transform the federal financial aid system that struggling students and families rely on to pay for college. The proposed budget cuts excessive lender subsidies, moves to more efficient direct lending instead, and invests the savings in students. Our report examines the impact, for the entire country and for students in each state.
