Cost Reduction Act awaiting Bush approval
Whitney Lawrence
Issue date: 9/25/07 Section: News
Whitney Lawrence
City Times
The College Cost Reduction Act, passed by the Senate and the House of Representatives on Sept. 7, calls for an increase in Pell Grant scholarship awards, reduction of student loan interest rates, and a simplified college financial aid process. The act is now pending presidential approval and if passed will take immediate affect on college students across the United States.
"That's my understanding," said Gregory Sanchez, City College's financial aid Director, "is that the President will sign it. There were enough changes in it to meet his approval."
After Congress presented the bill to the president on Sept. 20, Congressman George Miller of California, who sponsored the bill, stated with confidence during a teleconference that "the bill will be passed in the next few days."
An increase in Pell Grant awards is among the top priorities of the act. According to the U.S. Department of Education, college students are awarded Pell Grants based on their Estimated Family Contribution, or EFC, and are not required to pay them back. The proposed bill will raise the maximum Pell Grant award from $4,310 to $4,800 in the 2008-09 school year and peak at $5,400 by 2013.
"It's huge," Sanchez said of the bill. "I'm pleased with the increase. The more Pell Grants (students) can get the fewer loans they have to borrow. It's a real benefit."
Another asset to the College Cost Reduction Act is called Tuition Sensitivity. San Diego City College students pay $20 per unit, among the lowest in the nation for college tuition. One drawback to the low fees is that City College students are not getting the maximum Pell Grant awards. With Tuition Sensitivity, the government will no longer use tuition cost as a factor, giving City College students the best of both worlds - low tuition and high scholarship awards.
Upon approval, Sanchez says the College Cost Reduction Act will have immediate effect on City College students, as well as college students around the country. Since the bill is retroactive to July 1, students who are eligible to more money under the Cost Reduction Act will receive the difference at a later date yet to be determined.
City Times
The College Cost Reduction Act, passed by the Senate and the House of Representatives on Sept. 7, calls for an increase in Pell Grant scholarship awards, reduction of student loan interest rates, and a simplified college financial aid process. The act is now pending presidential approval and if passed will take immediate affect on college students across the United States.
"That's my understanding," said Gregory Sanchez, City College's financial aid Director, "is that the President will sign it. There were enough changes in it to meet his approval."
After Congress presented the bill to the president on Sept. 20, Congressman George Miller of California, who sponsored the bill, stated with confidence during a teleconference that "the bill will be passed in the next few days."
An increase in Pell Grant awards is among the top priorities of the act. According to the U.S. Department of Education, college students are awarded Pell Grants based on their Estimated Family Contribution, or EFC, and are not required to pay them back. The proposed bill will raise the maximum Pell Grant award from $4,310 to $4,800 in the 2008-09 school year and peak at $5,400 by 2013.
"It's huge," Sanchez said of the bill. "I'm pleased with the increase. The more Pell Grants (students) can get the fewer loans they have to borrow. It's a real benefit."
Another asset to the College Cost Reduction Act is called Tuition Sensitivity. San Diego City College students pay $20 per unit, among the lowest in the nation for college tuition. One drawback to the low fees is that City College students are not getting the maximum Pell Grant awards. With Tuition Sensitivity, the government will no longer use tuition cost as a factor, giving City College students the best of both worlds - low tuition and high scholarship awards.
Upon approval, Sanchez says the College Cost Reduction Act will have immediate effect on City College students, as well as college students around the country. Since the bill is retroactive to July 1, students who are eligible to more money under the Cost Reduction Act will receive the difference at a later date yet to be determined.
Viewing Comments 1 - 1 of 1
Sarah Clough
posted 3/21/09 @ 10:48 AM PST
wow, this brings back some great memories! it seems like just yesterday i was watching all of these great shows, and more great shows. this homecoming theme has been so much fun!
Post a Comment