House OKs overhaul of college aid programs

Source: suntimes.com Posted By: Nellie D...5332 days ago

The House voted Thursday in favor of the biggest overhaul of college aid programs since their creation in the 1960s -- a bill to oust private lenders from the student loan business and put the government in charge.

The vote was 253-171 in favor of a bill that fulfills nearly all of President Obama's campaign promises for higher education: The measure ends subsidies for private lenders, boosts Pell Grants for needy students and creates grant programs to improve community colleges and college graduation....

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