More Financial Aid for College Students on the Way?

September 6, 2007

According to, President Bush plans on signing legislation that would increase college financial aid by about $20 billion over the next five years.

The new bill would reduce the interest rate on need-based student loans to 3.4% (currently 6.8%) over the next four years.

It would also increase the Pell grant maximum to $5,400 over the next five years.

Other provisions in the bill will help borrowers who are having trouble meeting payments due to economic hardships. 

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Kristine McKinley, CFP®, CPA, is the founding principal of Beacon Financial Advisors, LLC, an independent, fee-only financial planning firm located in Lee’s Summit, Missouri and serving the greater Kansas City area.

Kristine focuses on providing fee-only financial planning, investment advice, and tax preparation to individuals and families from all income levels.  About Us

In the News

Investment News – Kristine McKinley discusses the 0% Social Security COLA (for 2016) in No Social Security cost-of-living adjustment in 2016.

Kiplinger Magazine/NAPFA – Kristine McKinley answered reader’s tax questions during the 2013 Jump Start Your Retirement Plan Days sponsored by Kiplinger magazine and the NAPFA Consumer Education Foundation.