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Quick_Money_loan » Quick Money Loan - Minot State official says student loan bill helps but not enough (The Bismarck Tribune)

Quick Money Loan - Minot State official says student loan bill helps but not enough (The Bismarck Tribune)

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MINOT (AP) - A student aid bill signed by President Bush helps, but does not increase the total loan limit, Minot State University’s financial aid director says. The bill does increase the amount that students can borrow as freshmen or sophomores, but the maximum amount an undergraduate student can borrow remains at $23,000 for four years of education, director Dale Gehring said. The legislation boosts the maximum Pell grant, which goes to the poorest college students, from $4,310 a year to $5,400 a year by 2012. Students with heavy debt loads also are forced to leave the state to find jobs that pay enough to help them pay back their loans, he said. Under the legislation, the increase in financial aid is designed to come from cuts in subsidies that the government makes to banks, totaling roughly $20 billion. read more

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