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Senate approves higher grants for low income students
The Senate passed a bill increasing maximum Pell grants from 4310 to 5400 by 2011. The measure would cut roughly 18 billion from banks issuing federal loans, with much of the savings directed to students and deficit reduction. The plan keeps interest rates unchanged for poor and middle class borrowers and seeks simplified aid forms and conflict of interest fixes. A House Senate committee will craft compromise language as both chambers push related Pell grant and repayment provisions.
MENTIONED IN THIS ARTICLE
Washington
Senate
Edward Kennedy
D-Mass
Senate Education Committee