Fair Loan Payment Proposal is Now Law
By strong bipartisan votes, the Senate and House of Representatives passed the College Cost Reduction and Access Act in early September. On September 27, President Bush signed the legislation. Public Law 110-84 includes a new Income Based Repayment plan modeled on our Plan for Fair Loan Payments. Along with the substantial increase in Pell Grants, this is the most significant step forward that we have seen in years. For more information, see our fact sheets: Key Provisions in H.R. 2669 and Fair Loan Payments.