Banks lose, students win

All eyes were focused on the passage of the health care bill last week, but within the reconciliation bill that passed were some key education provisions – including restructuring the federal student loan program and greater investment in Pell grants.  

The approved legislation effectively removes private banks from the federal student loan equation. Direct-lending by the federal government will take the place of lending by private banks. This move is expected to save $61 billion over 10 years, with much of that money to be invested in higher education. This legislation increases the maximum size of Pell grant awards, with increases tied to inflation, and eases the debt burden of students participating in the Income-Based Repayment Program. Those students in the Income-Based Repayment Program will pay 10% (down from 15%) of their income towards their loans and debts will be forgiven after 20 years (down from 25 years).

For more information on these changes: http://www.americanprogress.org/issues/2010/03/safra_minorities.html

Making sure your high school students are adequately prepared for college

Once your students are in high school, what do you need to do to make sure they are, in reality, being well-prepared for four-year colleges? This month’s research brief – Reality Check – Making Sure Your High School Students are Adequatley Prepared for College - focuses on how to make sure your students are getting a rigorous college-prep high school education and summarizes the issues that you should consider as your students transition to high school.

Ed Funding in Stimulus Package Threatened

The House version of the stimulus package included an historic $140 billion for education (including investments in Title I, funding to states to avert substantial cuts in education spending, grants for states and districts that are closing the achievement gap and funds for improving teacher quality).

Many of these investments, however, may be cut from the Senate version of the stimulus package. Senate leaders are currently working on finalizing the legislation. To contact your Senators and ask them not to eliminate education funding in the stimulus package, visit the website of our friends at Citizen Schools.