Even though the healthcare bill that passed the House of Representatives last Sunday and was signed by President Obama received most attention for its provisions to reform the health insurance system, it also included important provisions that are expected to help current and future college students pay for their education.
In particular, the budget reconciliation legislation through which the healthcare reform was passed included the bill known as H.R. 4872 that will shift student loan lending from the bank-based Federal Family Education Loan Program to the cheaper Direct Loan Program, which its supporters believe will lower servicing costs and repayments.
"[The legislation] will provide immediate relief for millions of students who might otherwise abandon their college aspirations or drop out of college when forced to rely on loan debt to pay for it," said Rich Williams, higher education associate for the U.S. Public Interest Research Group, quoted by Inside Higher Ed, an industry publication.
Under the law, some $61 billion in savings over 10 years will also be used to improve the Pell Grant Program and other education priorities, including $750 million investment to bolster college access and completion support for students.
The maximum annual Pell grant would rise to $5,975 by 2017, from $5,350 this year. 
