Posted on September 27, 2007
U.S. Senator Lamar Alexander (R-Tenn.) today praised the president’s signing into law the bipartisan College Cost Reduction and Access Act of 2007. “This is a great day for the over 100,000 Tennesseans who rely on the Pell grant program to afford college,” said Alexander, a former Education Secretary and University of Tennessee president. “This bill helps make college more accessible to all Americans, supports a thriving student loan program, and helps public service employees – like teachers, school counselors and first responders – achieve loan forgiveness. I’m pleased this legislation has become law.” Alexander, a member of the Senate Health, Education, Labor, and Pensions Committee, said the legislation will: • Increase the Pell grant to a maximum of $5,400 over the next five years, a significant increase that will help more students afford college; • Provide grants of up to $4,000 a year to students who want to become teachers in high-need schools. This will help increase the number of qualified teachers in our neediest schools, help improve student achievement, and reduce the achievement gap. • Provide active duty military flexibility to defer payments on their loans so that they are not burdened with loan payments while serving their country.