President Bush on Thursday signed legislation designed to make college more affordable for students from poor and middle-class families, swallowing objections to a bill that enjoyed veto-proof majorities in Congress.
The new law achieves a goal Bush shares with lawmakers: boosting aid for needy students. The action allows both the Bush administration and Congress to say they have done something to ease the burden of paying for college, a popular political priority.
"I have the honor of signing a bill that will help millions of low-income Americans earn a college-degree," Bush said in a ceremony, with lawmakers and students by his side.
The legislation boosts the maximum Pell grant, which goes to the poorest college students, from $4,310 a year to $5,400 a year by 2012.
It also cuts in half the interest rates on federally backed student loans
2007-09-27
07:40:32
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