Archive for Friday, March 26, 2010

College aid gets boost

March 26, 2010


— More college students will have access to bigger Pell Grants, and future borrowers of government loans will have an easier time repaying them, under a vast overhaul of higher education aid that Congress passed Thursday and sent to President Barack Obama.

The legislation, an Obama domestic priority overshadowed by his health care victory, represents the most sweeping rewrite of college assistance programs in four decades. It strips banks of their role as middlemen in federal student loans and puts the government in charge.

The House passed the measure 220-207 as part of an expedited bill that also fixed provisions in the new health care law. Earlier Thursday, the Senate passed the bill 56-43.


SettingTheRecordStraight 7 years, 8 months ago

As this article indicates, the money the government will save by excluding private industry from student lending will not be used to reduce the federal deficit. The supposed savings have already been earmarked for new and expanded government programs.

And when private industry is described by the press as a middleman between consumers and the government, we can rightly portend bad things for our country and our economy.

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