AAUW Celebrates Passage of Bill to Ease Student Loan Burden
Bill is largest investment in higher education since the GI bill
Washington â€“ The American Association of University Women applauds the House of Representatives for passing the College Cost Reduction Act (H.R. 2669) today, a bill that will increase scholarships and reduce loan and tuition costs for undergraduate students.
The bill is the largest investment in higher education since the GI bill, and comes at no new cost to tax payers. It will cut interest rates on subsidized federal loans in half over the next five years, contain college costs, and make student loan payments more manageable for borrowers. The bill will also increase the maximum Pell Grant scholarship by $500 over the next four years, and will provide loan forgiveness to a number of graduates who choose to become public servants.