Friday, July 20, 2007

Nelson-Burr Defeated, Student Aid Passes Senate

The Senate passed increases to the Pell Grant and all that other good stuff for borrowers in the budget reconciliation bill." The legislation that passed Friday in a 78-18 vote [way to go crossing the aisle, 28 Republicans!] would cut roughly $18 billion in federal subsidies to banks that issue government-backed student loans."

Next week they take up even more reform issues in the Higher Education Act reauthorization, like simplifying the FAFSA and changing the rules of oversight.

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