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The Student Aid and Fiscal Responsibility Act, which was included in the health care reconciliation bill that was enacted last month, directly impacts higher education financing programs guaranteed by the federal government. This legislation eliminates the Federal Family Education Program and replaces it with the Direct Loan Program effective July 1, 2010. It also increases the maximum Pell Grant, starting in 2013 to 2017, at the same rate as the consumer price index.

Peter Westerman

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