Barack Obama’s Revolutionay Reform – Student Loan Legislation
No doubt many students must have taken a sigh of relief when they heard about the news which has invaded almost all the newspapers and news channels in U.S. the student loan legislation which will be signed by The President Barack Obama will definitely prove to be the greatest reform in the education field. This vital decision came after series of health care issues approved and signed.
Barack Obama is suppose to sign the legislation on Tuesday during his visit to Northern Virginia Community College. This will bring the role of the private banks in lending loans to an end making them devoid of the fees they used to receive for acting as a middleman in Federal Student s loan.
The money saved will be utilized in making the Pell Grants stronger and more beneficial. Barack Obama’s policy will definitely bring solace to the students with lower interest rates on loans and easy repayment policies.
In most cases students after their graduation are loaded with the burden of debt, but this policy will help students to manage their loans. The loan granting procedure would be made easy and care would be taken that maximum number of students gets loans to pursue their studies. The best part is more funds will be diverted to minority colleges and universities.
Hats Off to Obama whose educational reforms will not only help to save tax but will have rise in the number of college graduates.