The first session of the 110th Congress ended in December 2007
with a whimper. It was notable for its stunning level of political
partisanship (so great that one highly respected political columnist
likened it to a "second Civil War") and a modest list of real
accomplishments.
To be sure, 2007 was a significant year for higher education on
Capitol Hill. In July, Congress passed and the president signed into law
H.R. 2669, the College Cost Reduction Act of 2007. This legislation cut
roughly $20 billion in subsidies that would have been paid to lenders,
guaranty agencies, and secondary markets that participate in the Federal
Family Education Loan Program over the next five years and redirected
those benefits to students. The money will be spent on a huge array of
enhanced benefits and new initiatives. . . .
Excerpted from the winter 2008 issue of The
Presidency. To subscribe to the magazine, please call (301) 632-6757,
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