Bush signs college aid bill

By BEN FELLER, Associated Press Writer 1 hour, 3 minutes ago


WASHINGTON - President Bush on Thursday signed legislation designed to make college more affordable for students from poor and middle-class families, swallowing objections to a bill that enjoyed veto-proof majorities in Congress.

The new law achieves a goal Bush shares with lawmakers: boosting aid for needy students. The action allows both the Bush administration and Congress to say they have done something to ease the burden of paying for college, a popular political priority.
"I have the honor of signing a bill that will help millions of low-income Americans earn a college-degree," Bush said in a ceremony, with lawmakers and students by his side.
The legislation boosts the maximum Pell grant, which goes to the poorest college students, from $4,310 a year to $5,400 a year by 2012.
It also cuts in half the interest rates on federally backed student loans — from 6.8 percent to 3.4 percent — over the next four years.
The increase in financial aid is designed to come from cuts in subsidies that the government makes to banks, totaling roughly $20 billion.
Boosting college aid was one of a half-dozen domestic priorities Democrats set when they took control of Congress this year.
Bush at one point threatened to veto the bill on grounds that it included hidden costs and was an expensive expansion of federal programs.
Yet he went along, despite what his administration still calls budget "gimmicks" in the legislation, mainly because of the increased aid for poor students, one of his longtime priorities.
"Pell grants send an important message to students in need," Bush said. "If you work hard, and you stay in school, and you make the right choices, the federal government is going to stand with you."
Congress overwhelmingly backed a compromise version of the student-aid bill earlier this month. The House approved it 292-97; the Senate vote was 79-12. All the lawmakers who voted against the bill were Republicans.
Bush wanted Congress to direct even more money into Pell Grants, and the president tersely noted his objections.
"This bill makes some spending commitments that aren't paid for yet," he said. "I look forward to working with the Congress to ensure Pell Grant increases that are not fully funded in this bill are paid for with offsets in other areas."
The president drew attention to a provision he likes, new flexibility on college-loan payments for military personnel on active duty.
And he praised the Democratic chairman of the House education committee, Rep. George Miller of California, for working with him. In doing so, Bush prodded Miller to stick with him on No Child Left Behind — the president's education law, which faces a tough renewal fight in Congress.
The action by Bush amounted to a rare compromise with Democrats.
Miller called it a momentous day for students and families struggling to afford college. "This legislation shows how the Congress and the president can work together to accomplish important things on behalf of American families," he said.

House Speaker Nancy Pelosi, too, said she was pleased that Bush signed the bill. "We have delivered on our promise to make college more affordable," Pelosi said of the Democrat-led Congress.

<falls off chair after seeing who started this thread>

J/K Hardman, Good for Bush!!!

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OMG! I cannot belive you started this thread! But you have to give the Devil his due sometime, huh?

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I have been sick lately. I might need to check my meds.

the funny thing is that a lot of Colleges and Universities are doing away with Student loans and going strictly to scholarships.

ABC News had a story last night about Amherst College, which costs 43k a year doing away with Student loans.

Not ABC, but a link

[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

The bills architech was a democrats from California. I will not raise taxes. And if a student stays in a public job (teacher, fireman, etc etc )for 10 years the Debt will be forgiven.

Now maybe you can show your face in downtown Athens, TX and not get run out of town on a rail!!

Hardman.
I'm seriously thinking about giving you an infraction for posting that.

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Proud Supporter Of: St. Jude Children's Research Hospital

Gun carrying, Pro-choice Blue Dog Democrat and damn proud of it!

NO ten days in the out house without any toilet paper would be much better!

No one caught on to the part about how Bush didn't really want to sign the bill into law. And no one even bothered to find out who authored the bill, that all the ones that opposed it were Republicans. Sorry, I was hoping someone else would step in and do that for me. I don't want to get the reputation that I hate Bush. Just what he does. But, i can't say I hate him for doing this.
This was a good bill. And is now a good law.
Not like the war spending bill that raised the minimum wage. Congress had to attach the minimum wage part to force the president to pass it.

But, never the less, Bush did the right thing this time. And deserves credit. Now, if he could just continue with the SCHIP bill, and keep doing the right thing, we might have insured Children, soldiers back at home, and working relationship with Iran.
I know those last two are stretches, but you never know.