Clinton Signs Higher Education Act Reauthorization
President Bill Clinton ended a detailed national two-year review of higher education policy October 7 when he signed into law a reauthorization of the Higher Education Act.
A higher maximum Pell Grant, lower interest rates on student loans, and help to recruit at-risk youth for college are among highlights of the bill, which was signed into law at a White House East Room ceremony.
Flanked by congressional leaders of both parties, Clinton said the bill culminates a three-year period in which the nation dramatically expanded aid to higher education. He mentioned a list of accomplishments that included the Hope Scholarship and Lifelong Learning tax credits enacted last year.
"College is no longer a luxury for the well-to-do, or even an opportunity for hard-working, middle-class kids whose parents save. It is an economic necessity for every American and for our country as a whole," the president said.
Clinton said the lower loan interest rates in the new bill could save the typical student $700.
"Anybody who can remember what it was like, knows that $700 to a college student is still real money," he said.
The president also thanked Rep. Chaka Fattah (D-Pa.), a Congressional Black Caucus member and prime architect of the new GEAR-UP program of partnerships to encourage middle and high school students to pursue a higher education. Students will receive mentors who can help them look at academic and financial issues to help them plan for college.
"We're not only trying to open the doors of college to all Americans, but to make sure all Americans know the doors are open," Clinton added.
President, Congress Reach Budget Deal
After weeks of tense debate, President Bill Clinton and the Republican Congress have agreed to a fiscal 1999 budget that includes many substantial increases for education.
The agreement includes an estimated $1 billion in new funds to help schools hire and train up to 100,000 new teachers. This issue was a major stumbling block that kept Congress from meeting its original October 9 budget deadline.
