Democrats, who won the House and Senate in the November elections,
say they will move quickly to slash interest rates on need-based
college loans…

They plan on cutting then In half — from 6.8 percent to 3.4 percent.

California Democratic Rep. George Miller, the incoming
Chairman of the House Education Committee, said in an interview
that it will be done almost immediately.

In addition, Pell grants — which do not have to be paid back
and go to only low-income students — will likely get an increase.
Party leaders say they want to…

Raise the maximum Pell award from $4,050 to $5,100.

This will be a much welcome blessing for the students who qualify.
Let’s hope these promises are more than just empty words.
Democrats haven’t spelled out how they’ll pay for these promises.

This entry was posted on Thursday, January 4th, 2007 at 4:56 pm and is filed under Student Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.