February 2, 2009
Last week the House of Representatives passed the economic stimulus bill. In their version, the Pell grant would increase and the Stafford loan borrowing limits would increase by $2000 per year.
The Senate is set to vote on the bill next week. In the meantime, they’re reconciling their version of the bill which does not have the Stafford Loan increases.
Opponents say the increases will lead colleges to raise tuition even further; proponents say that higher federal loan limits would lower the amount of private loans taken out for college.