Both Senate and House members, as well as college students, await President Bush's decision on the Higher Education Act. The act, which passed in the House 380 to 49 and the Senate by 83 to 8, includes an extended federal financial aid plan to help curtail the soaring costs of college tuition.
While many expect President Bush to sign the bill, White House spokesman Scott Stanzel states, "We will review the legislation to see how it addressed administration concerns during the conference process."
The bill aims to simplify federal financial aid forms, create a two-page FAFSA-EZ form, extend the availabilty of Pell grants year-round, as well as bans gifts and revenue-sharing between insitutions and lenders who offer students private and federal loans. Also, the new law requires publishers to sell unbundled versions of textbooks in order to save hundreds of dollars for students.