The U.S. House of Representatives passed the Student Aid and Fiscal Responsibility Act (SAFRA) on Thursday, with a vote count of 253-171. The SAFRA bill, should it pass the Senate, would represent the most significant piece of college finance legislation in decades.
Among the primary provisions of the SAFRA bill are:
- Increasing the Pell grant annually, starting with $5,550 in 2010 and maxing out at $6,900 in 2019.
- Keeping subsidized loan rates low, by changing them to a variable rate in 2012.
- Increasing access to the Perkins Loan program.
- Further simplifying the FAFSA form.
- Investing $2.55 billion in historically Black and minority colleges.
- Expanding access to kindergarten and early education programs.
To learn more about the SAFRA bill, visit the House Committee on Education and Labor's website.
How does this apply to California, when just last year they were talking about cutting grants, and loans? Either way, I am excited about this!
“How does this apply to California, when just last year they were talking about cutting grants, and loans? Either way, I am excited about this!”
Hi Ryan. This won’t have any bearing on the Cal-Grant program, which may continue to experience cuts due to the California budget crisis. It will however pick up some of the slack, due to the federal Pell Grant amount being increased.