Posted on 04 April 2010
Tags: Barack Obama, borrower, college graduates, college loan, Direct Loan program, education, Federal assistance in the United States, Federal Family Education Loan Program, Federal Government, Finance, Financial Aid, Grant Scholarship, health-care bill, House of Representatives, loan lender, New student loans law, Pell grant, Pell Grant scholarship, Pell Grants, private lending companies, private loan lender, scholarship, Student Aid and Fiscal Responsibility Act, Student Aid and Fiscal Responsibility Act of 2009, student aid programs, Student financial aid, Student Financial Assistance, student loan, Student loans in the United States, student support loans, united states, United States Department of Education
President Barack Obama has signed The Student Aid and Fiscal Responsibility Act on Tuesday. This act is about Pell Grant scholarship increase and also about loan issuance directly to borrowers. 
The Student Aid Act is a part of health care resolution. House of Representatives have passed the bill by a vote of 253/171 on September 19th and senate has approved the bill by 220/211 votes.
Previously subsidies were given to private loan lenders for providing financial aid to students. This distribution of financial aid was according to Federal Family Education program and is no more in use after the new act passing. But now according to new act all financial aid will directly go through the Direct Loan Program. This will save $87 billion in coming 10 year for the government after eliminating subsidies.
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Posted on 16 September 2009
Tags: Direct Loan program, FAFSA, federal student-aid programs, Free Application for Federal Student Aid, government proposal, Interest Rates, need-based federal student loans, Pell Grant scholarship, Student Aid and Fiscal Responsibility Act of 2009
If a government proposal to increase federal student aid passes then students can look forward to increased college affordability at no new cost to taxpayers.
The Direct Loan Program
The Student Aid and Fiscal Responsibility Act of 2009, would face a House vote next week. The act proposes to run all new federal student loans through the Direct Loan Program starting in 2010. By this students would be allowed to borrow directly from the federal government and then they do not need to go through third-party lenders, such as banks, whose federal student-aid programs are subsidized by taxpayer money.
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Posted on 08 August 2009
Tags: California, Congressional Budget Office, Department of Justice, drug possesion, education, Education in the United States, federal student loans, George Miller, House of Representatives, Obama, Politics, President, Student Aid and Fiscal Responsibility Act of 2009, Student financial aid, student loan, Student Loans, student loans for drug offenders, Student loans in the United States, united states
Congressman from California, Mr. George Miller , a Democrat, has introduced 181-page Student Aid and Fiscal Responsibility Act of 2009 to House of Representatives. The bill proposes several major revisions to student loan system. One of them is to allow access to federal student loans for collage students even if they were ever convicted for being drug offenders. 
In 1998 an student who got convicted for drug-possession were denied access to all type of federal funded student aid programs including federal student loans. In order to be eligible for a student loan, such student had to complete rehab programs and pass two un announced drug tests. Student who got convicted for selling drugs have different rules. They are doomed forever. no loans for them.
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