Bill Would Make College More Affordable
July 15, 2009, 11:59 AM
President Barack Obama's plan to dramatically increase college student aid has taken its first step in Congress.
House Education Committee chairman George Miller has introduced a bill that would boost Pell Grant scholarships for low-income students by linking them to inflation for the first time. It would be paid for by eliminating a massive program of subsidies for private college loans.
Lenders oppose the idea, but Education Secretary Arne Duncan says the government should be investing in the students and not the banks doing the lending.
Eliminating the subsidies would save an estimated $87 billion. While more than 6 million students and parents received loans under the subsidized program, it's begun to crumble amid the credit crisis. Hundreds of lenders have stopped making federally backed loans.
Besides funding the college loans, $10 billion of the savings would go toward early childhood education, increasing the number of poor children with access to pre-kindergarten, among other things.
© 2009 Associated Press. All rights reserved. Material may not be redistributed.
12/3/2013 10:40 AM
Schools in Dell Rapids are back to normal, after students were told to stay inside much of Tuesday morning while law enforcement looked for someone in...
12/4/2013 6:00 PM
Two Watertown High School students are expected to appear in court in Sioux Falls Thursday for murdering 20-year-old Jordan LeBeau on Monday.
12/3/2013 4:35 PM
Snow reports of six to ten inches have already been reported in west central to northwest South Dakota. That is, from Stanley and Haakon Countie...
12/4/2013 9:55 AM
Robbery was the motive behind a crime in Sioux Falls that ended with one man dead and another hurt.
12/5/2013 11:55 AM
A northwest Iowa day care provider has been charged with first-degree murder in the death of a three-year-old girl she was watching in late October.