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Pell Grant Increases Proposed
Key amendments to College Cost Reduction Act were submitted...per the July 3 deadline set by the Rules Committee, committee members have submitted their proposed amendments to the controversial College Cost Reduction Act. The bill cuts $19 billion in subsidies to lenders participating in the Federal Family Education Loan Program (FFELP) and shifts the funds to Pell Grants and other forms of student financial aid. Among the amendments submitted were Rep. George Miller's proposal to create a new fee for guaranty agencies and Rep. Howard McKeon's substitute bill that would transfer more money to increase Pell Grants. The House passed it last Wednesday, July 11th. Next up...The Senate...
Bill attached.
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