Now is Our Chance - House and Senate Move to Reform Student Loans
With Senate action yesterday, education committees in both the House and Senate have now approved legislation that will help reduce the hazards of student debt and give families earlier and more complete information about aid and loans.
We are pleased that the Senate legislation includes provisions to ensure that student loan borrowers have fair and realistic repayment options; to increase the value of the Pell grant; and to simplify the financial aid application process, making it easier for families to get the help they need to pay for college.
By reducing excessive lender subsidies, increasing grants, and improving loan terms, this legislation would restore some balance to the federal aid programs, putting the focus back on helping students.
The next step is the floor of both houses of Congress – please tell your representatives in Washington that these provisions deserve their support.
Read the full statement on these developments from Robert Shireman, executive director of the Project on Student Debt.
(This announcement was sent to the Project on Student Debt mailing list on June 21, 2007.)