Topic: Pell Grants

Starting today, student loan payments become more affordable for millions of Americans

July 1, 2009 |

New Financial Aid Benefits Allow Borrowers to Pay Back Loans Based on Their Income

WASHINGTON, D.C. – Starting today, federal student loans will become more affordable to repay as a new Income-Based Repayment (IBR) program takes effect.  IBR will allow borrowers to cap their monthly loan payments based on how much income they earn. This program, in conjunction with a lower interest rate on subsidized – or need-based – student loans and an increase in the Pell Grant scholarship, will help make college more affordable and help alleviate devastating student loan burdens for millions of students, recent graduates and other borrowers.

“This help couldn’t be coming at a better time for borrowers in this tough economy, or for current and future students facing an escalating college affordability crisis,” said U.S. Rep. George Miller (D-CA), chair of the House Education and Labor Committee. “These benefits will make a serious difference for students and families working very hard to pay for college, and will provide millions of borrowers more flexibility in choosing a career they truly desire rather than one made necessary due to crippling student debt.”

“Under this new program, students no longer have to choose between serving their nation and communities and tackling a mountain of college debt,” explained U.S. Senator Edward M. Kennedy (D-MA).  “Our nation is better and stronger when the best and brightest young Americans choose careers in public service.” «Read the rest of this article»

Sections: Education | No Comments

College Dems applaud President’s commitment to higher education & college affordability

April 29, 2009 |

(Nashville, TN) – Adam Haynes, President of the Tennessee Federation of College Democrats issued the following statement in support of President Obama’s plan presented today to make college more affordable and accessible to college students in this country:

Students in Tennessee -like young people all across America-are struggling to cope with the skyrocketing cost of higher education. In recent decades tuition has grown ten times faster than a typical family’s income – putting an undue strain on families and making the cost of higher education too expensive for far too many. «Read the rest of this article»

Sections: Education | No Comments

Pell Grants namesake acknowledged by Vice President-Elect Biden

January 5, 2009 |

Senator Claiborne Pell (1961-1997)

College students across the nation have lost a steadfast champion in their struggle to finance their education. Claiborne Pell died January 1st.

US Senator Claiborne de Bora Pell, Rhode Island-D, for whom the college financing grants program is named, died on New Year’s Day. He served in the US Senate for thirty-six years, from January 3, 1961 to January 3, 1997. Senator Pell was known as a long time advocate of expanding higher education opportunity in America by providing money to prospective and continuing college students. «Read the rest of this article»

Sections: Education, News, Politics | No Comments

Congress boosts Pell Grant funds; bucks lenders on loan subsidies

September 7, 2007 |

College students will be getting a financial break, thanks to bi-partisan approval today to an educational finance package that increases Pell Grants to low and middle income students over the next four years and alters the ground rules for student loans.

Both the House and Senate approved the changes, and in the bi-partisan Senate vote the numbers came in 79-12 in favor of the changes, with Democrats citing this win as one campaign promise fulfilled.

“We need a bold new commitment that will enable the current generation of Americans to rise to the global challenges we face. Today we will help millions of students achieve the American dream.”

–Sen. Edward Kennedy, Senate Education Committee Chair «Read the rest of this article»

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