Clinton Signs Higher Education Act Reauthorization
President Bill Clinton ended a detailed national two-year review of
higher education policy October 7 when he signed into law a
reauthorization of the Higher Education Act.
A higher maximum Pell Grant, lower interest rates on student loans,
and help to recruit at-risk youth for college are among highlights of
the bill, which was signed into law at a White House East Room ceremony.
Flanked by congressional leaders of both parties, Clinton said the
bill culminates a three-year period in which the nation dramatically
expanded aid to higher education. He mentioned a list of
accomplishments that included the Hope Scholarship and Lifelong
Learning tax credits enacted last year.
“College is no longer a luxury for the well-to-do, or even an
opportunity for hard-working, middle-class kids whose parents save. It
is an economic necessity for every American and for our country as a
whole,” the president said.
Clinton said the lower loan interest rates in the new bill could save the typical student $700.
“Anybody who can remember what it was like, knows that $700 to a college student is still real money,” he said.
