Democratic leaders released on Thursday their final version of legislation that would end the bank-based student-loan program. It contains about $20-billion less in savings that can be put toward other programs than the bill that the House of Representatives passed in September. Here are some key programs included in the latest proposal, compared with provisions that were in the bill passed by the House.
| What's in | What's out |
|---|---|
|
Automatic annual increase in maximum Pell Grant, by rate of inflation |
Automatic annual increase in maximum Pell Grant, by rate of inflation plus one percentage point |
|
$2-billion for community-college grant program to improve educational and career-training programs |
$10-billion for community-college grants |
|
$750-million for College Access Challenge Grants |
$3-billion for College Access grants |
|
$2.55-billion for historically black colleges and minority-serving institutions |
Expansion of Perkins Loan program, from $1-billion per year to $6-billion |
|
$1.5-billion to increase income-based repayment benefits for student-loan borrowers |
|
|
Sources: Congress, Chronicle reporting |
|
Add Your Comment
Commenting is closed.