VaporTrail Posted March 31, 2010 Report Share Posted March 31, 2010 http://www.reuters.com/article/idUSTRE62T1FX20100330 The student loan overhaul fulfills a long-time goal of Democratic lawmakers to end the bankers' role as middlemen and replace them with direct federal loans and aid to students. The White House said the change would save taxpayers $68 billion over the next decade. The money saved will help expand and strengthen the federal Pell Grant program for students. The change will cap college graduates' annual student loan repayments at 10 percent of their income, spends more at community colleges and awards $2.55 billion to historically black colleges and universities. It's about time. The system in place now just makes it extremely hard for poor families to send their kids to college, even if they are intelligent and would succeed there. Link to comment Share on other sites More sharing options...
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