<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/94347c50-1793-4dc3-ae34-63e9e48079ff/D9B1D98C-2E51-4BBF-8283-305E9C6B1225/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.boston.com/news/nation/washington/articles/2007/09/08/202b_boost_in_student_aid_approved/" href="http://www.boston.com/news/nation/washington/articles/2007/09/08/202b_boost_in_student_aid_approved/" style="font-size: 11px;">www.boston.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.boston.com/news/nation/washington/articles/2007/09/08/202b_boost_in_student_aid_approved/"><P>WASHINGTON - Congress approved a $20.2 billion boost in financial aid for college students yesterday, a package that backers said would be the single largest increase in federal tuition funding since World War II.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.boston.com/news/nation/washington/articles/2007/09/08/202b_boost_in_student_aid_approved/"><P>The bill, which President Bush is expected to sign, raises the maximum Pell grant for low-income students from $4,050 to $5,400, and temporarily slashes interest rates on student loans by half.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.boston.com/news/nation/washington/articles/2007/09/08/202b_boost_in_student_aid_approved/"><P>It also establishes debt-forgiveness programs for graduates who enter certain poorly paid fields such as law enforcement, firefighting, and teaching. According to the Department of Education, the average student now graduates with $19,000 in debt.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.boston.com/news/nation/washington/articles/2007/09/08/202b_boost_in_student_aid_approved/"><P>The new aid would be funded by a massive cut in subsidies to the scandal-plagued private student loan industry. Lenders said the cutbacks would cause some banks to stop offering student loans.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.boston.com/news/nation/washington/articles/2007/09/08/202b_boost_in_student_aid_approved/"><P>The president had threatened to veto an earlier version, but the White House indicated Thursday that Bush would sign the legislation.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D9B1D98C-2E51-4BBF-8283-305E9C6B1225/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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