America's College Students to get Biggest Increase in Financial Aid Since the GI Bill

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Statement from U.S. Secretary of Education Arne Duncan on House Passage of the Student Aid and Fiscal Responsibility Act (HR 3221) Today, the U.S. House of Representatives voted to give America's college students the biggest increase in financial aid since the GI Bill.

The bill will guarantee increases for the Pell Grant program for the 2010-11 year and beyond. It will overhaul federal student loans to make them more efficient while saving taxpayers billions of dollars over the next decade.

A share of the savings will also help reduce the deficit and promote high quality early childhood programs. It will support Historically Black Colleges and Universities, ensuring that these critically important institutions are integral to institutional improvement efforts at both the national and state levels.

The bill will help restore America's global leadership in higher education, paving the way for a stronger economy. The bill ensures that more students who are willing to take responsibility for their education can go to college and earn a degree. I am especially grateful to Chairman George Miller for his leadership in sponsoring this important legislation and for his commitment to quality and affordable higher education for all Americans.