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Student Loan overShadowed in Healthcare Reform
By Jan Green of Jaz Live Cash Culture
Believe it or not educational provisions was also addressed in the recent passing of Healthcare Reform via House Resolution (H.R.) 4872 aka Reconciliation Act of 2010. The Student Aid and Fiscal Responsibility Act (SAFRA) of 2010, was proposed to be stricken from H.R. 4872 three times out of 109 as shown in Summary of Amendments Submitted to the Rules Committee on Mar 19, 2010 at 9:23PM EST. "President Obama has identified an opportunity to make historic investments in our economic future by making college dramatically more affordable – at no cost to taxpayers." By a House vote of 220-211 , the President was supported in his bid to make college more affordable in the United States of America. Educational benefits awarded via SAFRA varies by congressional district. In my state, Georgia , the following is good news for my last minor at home graduates from high school this year. * increase the maximum annual Pell Grant scholarship to $5,550 in 2010 and to $5,975 by 2017
* federal loans more affordable for borrowers to repay
* starting July 1, 2010, all new federal student loans will be originated through the Direct Loan program, instead of through the federally-guaranteed student loan program
* Direct Loans can only be serviced by workers in the U.S. (Sallie Mae was forced to bring 2,000 jobs back to U.S. soil to win a direct loan servicing contract ) |
Student Loan Overhaul Advances
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We need education reform and I'm glad that something got done, Jan. I just wish that our congress would address one major issue with each bill and not confuse everything by adding every kitchen sink to each bill.
Thank you for sharing.
Best wishes.
Frederick
CONTRIBUTOR'S REPLY
As far as I can politacally remember and according to college professors ( previously studied under regarding politics ) ~ bills have always been porked by house members in order to get support for the 'core' of proposed House Resolutions ~~~ if military bills were published ~~~ citizens would be more 'outRaged'. One in particular would be the amount of funding for 'wounded soilders' that are not returned to the states.
I had read about this, definitely good news. College is soooo expensive! Thanks for getting the word out.
CONTRIBUTOR'S REPLY
You are sooooo correct ~ this resolution also helps students with 'outstanding student loan balances' ~~ I especially love the part that removed banks from the loaning process and the mandate that forced outsourced jobs form the USA to return back to the USA.
I think I'm with Frederick on this, Jan. It really makes it difficult when Congress rams these things through without knowing what's on it until AFTER it's passed. It just makes people more suspicious -- whether the program is good or not.
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This intel was contributed by JazLive
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