ISU Bengal

Issue date: 10/17/07 Section: News

President Bush signed the legislation, in spite of initially threatening a veto. While the President promised to raise Pell Grant maximums when campaigning in 2000, award amounts did not increase until the current Congress raised Pell Grants by $260 earlier this year. This legislation will boost the Pell Grant maximum further to $5,400 by 2012. President Bush criticized the other programs in the legislation, which provided grants for teachers, loan forgiveness for public servants, and income contingent repayment for lower-income graduates. Student organizations and advocates point to these programs as an important first step in addressing some of the underlying issues relating to college affordability for students of all socio-economic backgrounds.
While much emphasis has been placed on the benefits of this legislation to low-income, Pell Grant recipients that will help make college more affordable for them, the Act also addresses the concern of many working class and middle class students who are ineligible for the Pell Grants, but are being saddled with unmanageable debt. By imposing income based repayment regulations and cutting back the interest rate on student loans, moderate and middle class students can breathe easier with lower payments over the duration of their repayment.

< prev Page 2 of 2

Article Tools