After months of delays as education took a back seat to the health care debate, the House of Representatives Sunday night approved a mammoth bill that ties both issues together in a package that includes more support for Pell Grants and minority-serving institutions.
The votes in the House pave the way for enactment of a comprehensive health care bill that has dominated the Washington scene for the past nine months. But in a related budget reconciliation bill, they gave new life to legislation that would end federal subsidies to banks and convert some of that savings to college aid.
“Today we are investing billions of dollars in affordability and accessibility for students,” said Rep. Ruben Hinojosa, D-Texas, chairman of the House higher education subcommittee, just prior to the vote.
The budget reconciliation bill would provide $36 billion to increase the maximum Pell Grant from $5,550 to $5,975 by 2017 and cover a growing shortfall in the program. Other key provisions include:
n $2.55 billion for minority-serving institutions, including historically Black colleges and Hispanic-serving institutions;
n $2 billion in competitive grants to community colleges;
n $1.5 billion for a program to help borrowers by allowing them to repay loans based on income;
