2008 Woodie Awards
Congress passes act to make college more affordable
Tawana Sanders
Issue date: 10/2/07 Section: Campus News
Today almost 80 percent of jobs in America expect employees to have education above a high school level. Congress recently passed an act that makes it easier for Americans to go to college.
On Sept. 27, President Bush signed The College Cost Reduction and Access Act of 2007. This bill is designed to help make college more affordable for students who come from low-income families and are in need of financial aid.
Part of this act increases the amount of money that students who qualify for Pell Grants can receive. Currently the maximum amount of money given to qualified students is $4, 310. Once this act goes into effect the maximum is expected to rise to $5,400 by 2012.
Federal Student Loans will change as well. The act will reduce the interest rate on loans by about half, from 6.8 percent interest to 3.4 percent interest.
Predominately African-American colleges will also benefit from this act. These schools could receive $30 million in grant aid that is targeted at students majoring in things such as engineering, teacher education, and health education.
Aid for students in the military has also been upgraded. They now have the option to defer payments. Also, students who choose careers in public service, such as firefighters and teachers, will have more options when it comes to loan forgiveness programs.
Elizabath Feldhaus, a UNCG sophomore, said she believes the bill is a good move
"That sounds like a good deal for future students because college is expensive, especially for me because I'm from New York," said Feldhaus. "I'll be paying loans off for like the rest of my life."
On Sept. 27, President Bush signed The College Cost Reduction and Access Act of 2007. This bill is designed to help make college more affordable for students who come from low-income families and are in need of financial aid.
Part of this act increases the amount of money that students who qualify for Pell Grants can receive. Currently the maximum amount of money given to qualified students is $4, 310. Once this act goes into effect the maximum is expected to rise to $5,400 by 2012.
Federal Student Loans will change as well. The act will reduce the interest rate on loans by about half, from 6.8 percent interest to 3.4 percent interest.
Predominately African-American colleges will also benefit from this act. These schools could receive $30 million in grant aid that is targeted at students majoring in things such as engineering, teacher education, and health education.
Aid for students in the military has also been upgraded. They now have the option to defer payments. Also, students who choose careers in public service, such as firefighters and teachers, will have more options when it comes to loan forgiveness programs.
Elizabath Feldhaus, a UNCG sophomore, said she believes the bill is a good move
"That sounds like a good deal for future students because college is expensive, especially for me because I'm from New York," said Feldhaus. "I'll be paying loans off for like the rest of my life."
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