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.
January 27, 2009
The version of the stimulus package currently before the House of Representatives has the following higher-ed related provisions:
- Increase the Pell Grant by $500 from $4,850 to $5,350;
- Increase work study funding by $490 million;
- Increase student loan limits on unsubsidized Stafford Loan by $2,000;
- Provide $50 million to the Department of Education to help them administer student aid and loan programs.