How The Student Aid And Fiscal Responsibility Act Will Impact Us

Press Release

On September 17, the House passed H.R. 3221, The Student Aid and Fiscal Responsibility Act.

This bill is the single largest investment in aid to help students and families pay for college in history -- and at no cost to taxpayers. The passage of this bill is critical to building a stronger, more competitive American economy for the future. The bill is one of the most important bills to be considered in this Congress -- and is a top priority of the Obama Administration and the Democratic Congressional Leadership.

The bill reforms the system of federal student loans to save taxpayers $87 billion -- and then invests $77 billion of those savings back into education, particularly by making college more affordable, and directs $10 billion back to the Treasury to reduce entitlement spending. Among its many provisions, it increases the maximum Pell Grant from $5,350 in 2009 to $5,550 in 2010 and $6,900 in 2019 and keeps interest rates low on subsidized federal student loans. Learn more about how SAFRA will impact OUR area here: NY25 district information on SAFRA.pdf

And learn more about how SAFRA will help community colleges here.

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