US: Bill to make HE more affordable approved

In an unusual gesture of bipartisanship, the US House of Representatives approved the College Opportunity and Affordability Act last week. The bill addresses soaring university costs, streamlines the federal student loan process, introduces consumer protection for student loan borrowers, assists students in managing textbook costs and increases financial aid for military and low-income families, and students with disabilities.

Rubén Hinojosa, chair of the House Subcommittee on Higher Education, Lifelong Learning, and Competitiveness, described the bill as ground-breaking. “It closes gaps in access and affordability for low-income and minority families so that our nation has more college graduates ready to succeed in the globalised workplace,” Hinojosa said.

A recent report from the College Board, a prestigious non-profit higher education examination board, said that over the past five years tuition and fees had increased at public and private colleges, and at two-year and four-year institutions of higher education.

A bill passed late last year in Congress increased federal student aid by $20 billion. The new bill represents the Democratic Congress’ further attempts to rein in costs and protect ‘consumers’ of higher education.

The White House voiced concerns with the bill although it has not said it will veto the legislation. The White House issued a statement saying it wanted to limit some of the provisions but was willing work with Congress on making the bill acceptable. The next step is for House and Senate lawmakers to come up with final legislation which will once again go to both houses for final voting before enactment.