The Senate passed a bill early Friday to increase aid to college students. The bill would give more money to Pell grant recipients, who are among the poorest. They get a maximum award of $4,310 annually now, but that would be bumped up to $5,400 by 2011. To pay for the proposal, lawmakers would cut roughly $18 billion in federal subsidies to banks that issue government-backed student loans. (USA Today, Friday)
It'll win votes in November.
FEE Timely Classic
No More Subsidies for Higher Education by George C. Leef