August 13, 2007
Manchester, NH—Last week, Connecticut Senator Christopher J. Dodd (D) announced a new higher education plan at the New Hampshire Community Technical College in Manchester. A major component of this plan would require the federal government to give funding to states that would allow them to provide free community college education.
During his announcement, Dodd also discussed elements of higher education proposals that have already been passed by the Senate committees or by the full Senate, according to Higher Education Washington, Inc.'s NewsLine. These elements include increasing the amount of money available for Pell Grants; Dodd would like to add $100 to the program.
These proposals also target student lenders. They would redirect money from FFEL Program subsidies and use it for other forms of financial aid, including grants.
In light of the recent scandals involving student loan companies and colleges and universities, the plans would also require private student lenders to avoid giving money or gifts to colleges in exchange for placement on preferred lender lists given to students.
Currently, Senator Dodd is chairman of the Senate's banking committee and sits on the education committee. But Dodd is setting his sights on running for the Democratic Party's nomination for the presidency. According to NewsLine, polls show that Dodd is currently "at the bottom of the running for the nomination."
EdFed loan advocate Jennifer Munson feels that these proposals would all be in students' best interests.
"Free community college would be a great way to ensure that all citizens have an equal opportunity to obtain an education," said Munson. "It's our goal at EdFed to assist all students in realizing this dream."
As a leader in the student loan industry, EdFed is dedicated to helping students and graduates realize all of their educational goals and meet their student loan and consolidation needs.