Although it has received almost no press, in part due to being in the shadow of health care reform, Congress passed sweeping legislation this week to reform a great deal of the system governing college financial aid. The changes will expand aid; streamline the aid process; and make the system both cheaper to operate and more financial secure. Moreover, it was done in stark, blunt opposition to heavy lobbying by the banking industry, which stood to lose a lot of money if reform passed. Amazingly, the Democrats stood up to this lobbying from one of the most powerful industries and actually did the right thing. (The Republicans stood with the banks. Water is wet.) This is a real victory for the nation, and will help new generations of American students achieve their dreams of higher education, thereby strengthening the country.
26 March 2010
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