Changes take effect for federal student loans, Pell grants
2010 July 7
Many AAUW-supported changes to student loans and Pell grants went into effect on July 1. For example, the maximum Pell grant award increased by $200 to $5,550.
In addition to rates on subsidized Stafford loans decreasing, all new federal student loans will be direct student loans. Also, changes to the Income-Based Repayment (IBR) program will provide relief to married borrowers and students who owe more now than when they finished school.
AAUW supported these changes as well as the IBR program generally, which caps student loan payments at affordable levels and forgives remaining federal debt after 25 years of payment. Provisions of the IBR program were included in the health care reform legislation passed earlier this year. For more information and an updated loan repayment calculator, visit IBRinfo.org, a service of the Project on Student Debt .
AAUW is committed to policies that increase access to higher education for women and disadvantaged populations. Access to affordable loan programs relieves the overwhelming debt burden on students and increases such access.
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