While there is a great amount of press around the Health Care Reform bills passing the House currently (#hcr), I wanted to join my friend studentactivism.net in celebrating the passage of Student Aid and Fiscal Reform Act (SAFRA!!) as well!
SAFRA was packaged into the House Reconciliation Act for the health care bill, the act that reconciled the differences was agreed on between the Senate, House, and Presidential leaders (or this is my understanding of it anyway). There is a better form of understanding this at studentactivism.net’s blog.
Sallie Mae, the private student loan bank, has been the main opponent of SAFRA – you can see SAFRA advocate Jason Delisle from the New America Foundation and Sallie Mae’s Renee Mang, Senior Vice President duke it out on PBS’ Newshour here.
There have been a lot of benefits from SAFRA reported, including over 80billion dollars saved, and the cutting out the in-between sellers (sallie mae, in some cases) in student loans. Som of the 80b will go to increased Pell Grants on the federal level. The version that has made it into the House has changed and been watered down significantly, you can take a look at the changes on Inside Higher Ed’s report.
Of course, it has to be recognized the hundreds of student organizers and community organizers across the nation that have worked on SAFRA for years, and have finally have seen the amazing fruits of their work. USSA, CampusProgress, and more! Thank you!!