Last week, Speaker Pelosi sent the College Cost Reduction and Access Act to the President for his signature. The legislation will help millions of students and families pay for college at no new cost to taxpayers, boosting college aid by roughly $20 billion over the next five years. This morning, the President signed the landmark college student financial aid bill into law and now the College Cost Reduction and Access Act is looking for somebody to love:
Find out if you’re compatible at www.edworkforce.house.gov/college.
Speaker Pelosi on the College Cost Reduction and Access Act of 2007 becoming law:
The College Cost Reduction and Access Act is the New Direction Congress' down payment on the American dream for millions of families.
We have delivered on our promise to make college more affordable by increasing the maximum Pell Grant to $5,400 and cutting student loan interest rates in half, all at no new cost to American taxpayers. Thanks to this legislation, students across this country will take on less college loan debt while in school and all graduates will pay smaller student loan bills when they enter the workforce.
By boosting college financial aid by roughly $20 billion over the next five years — the largest investment in student financial aid since passage of the GI Bill in 1944 — the College Cost Reduction and Access Act will help foster the next great generation of American leaders. I am pleased that President Bush has signed this essential legislation into law.