Good News for Students – Loan Interest Rates Start Decreasing on July 1st
07/03/2008
Courtesy of Nancy Pelosi
House News Roundup:
Good News for Students – Loan Interest Rates Start Decreasing on July 1st
As a result of legislation passed by the Democratic Congress, interest rates on need-based federal student loans will be cut in half over the next few years, saving the average borrower $2,570 over the life of the loan. Starting on July 1st, the interest rate for need-based, or subsidized, federal loans drops from 6.8 percent to 6.0 percent – the first step in halving interest rates until they reach 3.4 percent.
This legislation also:
- Increases Pell Grants by $490, raising the maximum award to $4,731
- Provides up-front tuition assistance of $4,000 each year for students who commit to teaching high-need subjects in high-need public schools
An Education for Returning Veterans
This week, the GI Bill for the 21st Century became law, giving a four-year college scholarship to veterans who served in Iraq and Afghanistan. This gives returning troops the tools to succeed when they return home, and helps to strengthen our shaky economy.
"College became affordable for the 1.7 million troops we sent to Iraq and Afghanistan. It is a promise we made to the veterans of World War II: that those who defend our country should be able to take advantage of America's opportunity. This legislation again fulfills that promise, and will do nothing less than change the course of an entire generation."
What are you doing to save energy and promote a green planet this summer?
Tell us what you‘re doing this summer to save energy, stop global warming, or clean up your neighborhood and planet. It can be anything from turning off the lights and skipping the air conditioning at home, riding a bike or taking public transportation instead of driving, or volunteering your time to make a difference. We’ll feature several entries in the next issue of the Pelosi 411.
New York Times: How Green Is the College? Time the Showers
Read about students colleges who live in sustainability houses - and the creative ways they’re reducing their impact on the planet. From competing to take the shortest shower, composting their food, and using low-flow toilets, these students are taking the lead in protecting the planet.
It’s Getting Hot In Here: MTV’s Real World Gets Real on Green
What happens when seven strangers stop being polite and start going green? The cast of the Real World Hollywood is learning about sustainability by living in the show’s first ‘green’ house. The Hollywood house has bicycle-powered computers, energy-efficient lighting, recycled furniture, and composting and recycling. Read Summer Rayne Oakes on the It’s Getting Hot In Here blog about helping the cast adjust to their new green digs.
Congress Twitters
Congressional debates on the House floor? So 2007 (or 1787 for that matter). Earlier this month, Congress witnessed its first Twitter debate, when Speaker Pelosi's 30 Something Working Group Member Rep. Tim Ryan (@timryan) challenged Rep. John Culberson to a Twitter-off. The Congressmen used Twitter, the micro-blogging site that lets users post 140 character status updates, for a real-time debate from the House floor about gas prices, oil drilling, and extending unemployment insurance for Americans looking for work.
Ensuring Access to Student Loans, Regardless of Turmoil in the Credit Market
Recent turmoil in the credit markets has made it difficult for some lenders in the federally guaranteed student loan program to secure the capital needed to finance college loans, leading some lenders to scale back their lending activity. Congress has taken action to make sure that contingency plans are in place to provide students and families with uninterrupted access to federal loans, regardless of what’s happening in the credit markets. Signed into law on May 7, the Ensuring Continued Access to Student Loans Act would provide new protections to ensure that families can continue to access the loans they need to pay for college