Expense Loan Parent Student

Posted onJanuary 12, 2012 - 6:52 am by Admin | 0 Comments

Parents and college students struck a huge blow to banks today with the passing of a package of college legislations to renew the Higher Education Act. This new legislation addresses a myriad of student and institutional concerns.

Relationships Between Schools and Banks

This new legislation prohibits many of the improprieties that have been going on between banks and schools, including many of the changes in the legislation proposed by Andrew Cuomo. For more on Andrew Cuomo and his reaction to several New York state Universities and Banks, check out Student Loans and Redlining.

Increased Federal Grants to Incoming Students

Under the new law $17.3 billion will be provided to students over the next five years in addition to the current Pell Grants they already receive. These “Promise Grants” are designed to increase Pell Grant allotments by about $5,000.


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