Thank you President Bush and Congress

[Ice]

Spoiler Alert, click show to read: 

Bush signs bill boosting aid to students

By BEN FELLER, Associated Press Writer Thu Sep 27, 3:51 PM ET

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.
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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. House Speaker Nancy Pelosi said she was "pleased" by Bush's move.

"We have delivered on our promise to make college more affordable," Pelosi said.

6.8% to 3.4%. Even though I'm not poor enough to receive pell grants, this is a good thing.

[ajaxfetish]

There's a lot not to like in our government. It's nice, though, to take a moment to appreciate when the various contingents can set aside their partisan conflicts and do something worthwhile. Thanks, Ice.

Ajax

[CountArach]

*Round of Applause*

Now back to hating them.

[Odin]

Spoiler Alert, click show to read: 

Bush signs bill boosting aid to students

By BEN FELLER, Associated Press Writer Thu Sep 27, 3:51 PM ET

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.
ADVERTISEMENT

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. House Speaker Nancy Pelosi said she was "pleased" by Bush's move.

"We have delivered on our promise to make college more affordable," Pelosi said.

6.8% to 3.4%. Even though I'm not poor enough to receive pell grants, this is a good thing.

Its a nice start thats for sure, Bush should get credit for signing this. I'd like to see the pell grant ceiling at 10k with additional incentives given should the student do community service/volunteer work.

there ought to be a way to find more money for this.

[CrossLOPER]

Where is this mythical place were interest for student loans is 7%??????? Why do I get the state set 11% for the same loans?

Stupid JAAAAAAAAAWWWWWWWWWWJJJJJJJJJJAAAAAAAA and your redneck/other asshat lotto funded scholarship.

Oh noes we cant have you pay the 6% for the Stafford, we'll make you pay the Pell for 11%! That ought to screw you over and make the HOPE benefits vanish in four years time!

[Ice]

Where is this mythical place were interest for student loans is 7%??????? Why do I get the state set 11% for the same loans?

Stupid JAAAAAAAAAWWWWWWWWWWJJJJJJJJJJAAAAAAAA and your redneck/other asshat lotto funded scholarship.

Oh noes we cant have you pay the 6% for the Stafford, we'll make you pay the Pell for 11%! That ought to screw you over and make the HOPE benefits vanish in four years time!

[CrossLOPER]

You like my loosely related rant, yes? I should probably edit it, no?

[Odin]

You like my loosely related rant, yes? I should probably edit it, no?

No dont edit it, its very revealing.

[CrossLOPER]

No dont edit it, its very revealing.

I wish ICE would keep his quote up, though I have changed my post so it makes more sense.

I wish to inquire the area and circumstance as to where the loan interest rate was/is at ~7%, for it appears I have been charged with 11% for seemingly the same loans.

I am somewhat dismayed at the way the main local scholarship has been handled.

At the rate I am charged, the benefits of the scholarship will be non existent within four years time, that is if my situation were to be compared with the one afore mentioned.

[Odin]

I wish ICE would keep his quote up, though I have changed my post so it makes more sense.

I liked the original better, but yeah 11%? you got hosed dude.