[LM_NET] US: Help for Librarians who have student loans

[Mary Ludwick <ludwick@SWBELL.NET>]

FYI:
The House and Senate passed the College Cost Reduction and Access Act on
Friday, providing additional aid for students and their families. 
What the bill does: 
. Drops college loan interest from 6.8 percent to 3.4 percent phased in over
four years. 
. Beginning with the 2008-09 academic year, increases the maximum Pell Grant
from $4,300 to $5,400 by 2012. 
. Gives debt forgiveness to students with direct loans from the government
after 10 years of work in certain public sectors, including emergency first
responders, nurses, firefighters, prosecutors, early childhood educators and
librarians. That provision takes effect July 1, 2008. 
. Gives undergraduates who commit to teaching in high-need public schools
tuition assistance of $4,000 a year, up to as much as $16,000, starting with
the 2008-09 academic year. 
. From July 1, 2009, caps students' monthly federal loan repayments to 15
percent of what the government determines to be their discretionary income. 
. Funnels $285 million toward Upward Bound, a program that prepares needy
students, or those whose parents did not receive higher education, to go to
college. 
SOURCE: Los Angeles Times 


Mary Croix Ludwick
Librarian, Thomas Haley Elementary
Irving, Texas (near Dallas)
mludwick@irvingisd.net
ludwick@swbell.net (home)


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