House backs bill to overhaul student loan program
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John
The House voted Thursday in favor of the biggest overhaul of college aid programs since their creation in the 1960s — a bill to oust private lenders from the student loan business and put the government in charge.

The vote was 253-171 in favor of a bill that fulfills nearly all of President Obama's campaign promises for higher education: The measure ends subsidies for private lenders, boosts Pell Grants for needy students and creates a grant program to improve community colleges, among other things. "These are reforms that have been talked about for years, but they're always blocked by special interests and their lobbyists," Obama said Thursday during a rally at the University of Maryland.

http://www.usatoday.com/news/washington/2009-09-17-ed-bill_N.htm


4 year ago   (10/23/2012 2:49 PM)             Post Reply    

 
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