Student Aid and Fiscal Responsibility Act

Revising student aid formula, house votes to expand federal loans, By Tamar Lewin, September 17, 2009, New York Times: “The House of Representatives passed legislation Thursday that expands federal aid to college students while ending federal subsidies to private lenders. By shifting to direct federal lending, the Obama administration said it will save more than $80 billion over 10 years, which will go into higher Pell Grants for low-income students, new investments in community colleges, early-childhood programs and other education efforts. The vote was 253 to 171. The measure, the Student Aid and Fiscal Responsibility Act, now goes to the Senate, where Democratic leaders expect it to pass…”