February 2, 2009

Economic Stimulus Bill Update

Posted in Grants, Legislation Affecting Students, Stafford Loans, Student Loan News, The Financial Aid Process tagged , , , , , at 8:09 AM by Joe From Boston


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

Stimulus Package in House or Representatives

Posted in Grants, Legislation Affecting Students, Saving for College, Student Loan News, The Financial Aid Process tagged , , , , , , , at 1:46 PM by Joe From Boston


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.