July 9, 1998(Key vote)
Title: Higher Education Programs Authorization Extension bill
Vote Smart's Synopsis:
Vote to pass a bill that reauthorizes funds for federal higher education programs in fiscal years 1999-2003.
Lowers interest rates on student loans by 2003, with special reduced rates for consolidated loans.
Increases funds for work-study programs from $800 million to $1 billion for fiscal year 1999.
Incrementally increases Pell Grant maximums from $4,500 in academic year 1999-2000 to $5,800 in academic year 2003-2004.
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.