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AEP Online |
Senate Takes on Higher EducationAfter passing the Higher Education Access Act of 2007 (S. 1762) last week by a vote of a 78-18, the full Senate is taking up the Higher Education Amendments of 2007 (S. 1642). The HELP Committee approved S. 1762 and S. 1642 together in June, and Senator Enzi (R-WY) has since been adamant that the full Senate take up the two bills together. S. 1762 included tradeoffs between loan programs and need-based aid that will help address the challenges of the rising costs of post-secondary education while saving about $1 billion for deficit reduction. The bill raises the authorized level for a maximum federal Pell grant award for low-income students to $5,400 for academic year 2008-09, with additional increases through 2012. S. 1642 would amend the act and includes provisions that the sponsors hope will bring new confidence to the student loan industry. Over the past year scandals have plagued the industry, prompting the bi-partisan overhaul. Some of those provisions include
One particular provision has already caught the attention of President Bush, who is threatening to veto this and other education funding bills. That provision would create an index of tuition cost increases for the entire country. The "Higher Education Price Increase Watch List," would list tuition increases over the past two years and single out colleges that exceed the average increases. On July 11, the House passed their version, The College Cost Reduction Act of 2007 (H.R. 2669), by a vote of 273-149.
Questions, ideas, or in need of more information? Please contact Stacey Pusey at 856-241-7772. |
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