Riding the coattails of a historic health care vote.
House Passes Student Loan BillWASHINGTON — Riding the coattails of a historic health care vote, the House on Sunday also passed a broad reorganization of college aid that affects millions of students and moves President Barack Obama closer to winning yet another of his top domestic policies.
The bill rewrites a four-decades-old student loan program, eliminating its reliance on private lenders and uses the savings to direct $36 billion in new spending to Pell Grants for students in financial need.
In the biggest piece of education legislation since No Child Left Behind nine years ago, the bill would also provide more than $4 billion to historically black colleges and community colleges.
The bill was paired with the expedited health care bill, a marriage of convenience that helped the prospects of each measure. That combined measure passed 220-211. LinkHere
The bill rewrites a four-decades-old student loan program, eliminating its reliance on private lenders and uses the savings to direct $36 billion in new spending to Pell Grants for students in financial need.
In the biggest piece of education legislation since No Child Left Behind nine years ago, the bill would also provide more than $4 billion to historically black colleges and community colleges.
The bill was paired with the expedited health care bill, a marriage of convenience that helped the prospects of each measure. That combined measure passed 220-211. LinkHere
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