I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
Obama signs health care, student loans bill
The issue that took up over a year of Barack Obama’s time in office is now officially done. Tuesday morning, the president signed the reconciliation “fix” bill that passed Congress last week. The bill also included what Obama called “one of the most significant investments in higher education since the G.I. Bill.”
While the health care reform portions of the bill that passed Congress last week has gained much attention, the more significant piece may be the overhaul of the student loan industry.
From the New York Times:
The new law will eliminate fees paid to private banks to act as intermediaries in providing loans to college students and use much of the nearly $68 billion in savings over 11 years to expand Pell Grants and make it easier for students to repay outstanding loans after graduating. The law also invests $2 billion in community colleges over the next four years to provide education and career training programs to workers eligible for Trade Adjustment aid.
The bill also eliminated portions of the previous health care reform bill such as the “Cornhusker Kickback,” which gave Nebraska an additional $100 million in Medicaid funding as well as making other adjustments to the health care reform bill that Obama signed last week.