I'm still looking for an explanation for the abrupt about-face on this (I'm guessing it bought a needed vote to pass the healthcare bill) and will fil
March 22, 2010

I'm still looking for an explanation for the abrupt about-face on this (I'm guessing it bought a needed vote to pass the healthcare bill) and will fill you in when I find out:

WASHINGTON — Along with the major health care legislation, the House on Sunday was poised to approve a major revamping of federal student loan programs that would eliminate fees paid to private banks to act as intermediaries.

Instead, the government would expand an existing direct lending program, a step that the Congressional Budget Office said would save taxpayers $61 billion over 10 years, and use the money to increase Pell grants for needy students.

The student loan bill is a centerpiece of President Obama’s education agenda, and it was included in the budget reconciliation measure that also makes final revisions to the Senate-passed health care bill.

The bill would set automatic annual increases in the maximum Pell grant, which is set to rise to $5,975 by 2017 from $5,350 this year.

The new Pell initiative also includes $13.5 billion to cover a shortfall caused by a steep rise in the number of Americans enrolling in college and seeking financial aid during the recession.

UPDATE: Apparently it did pass, added as a last-minute amendment in the final package. Not sure why there's contradictory stories.

Can you help us out?

For nearly 20 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

Discussion

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service for information on our posting policy.
Mastodon