After signing the Act, Obama addressed the students of Northern Virginia Community College, Virginia, Tuesday, March 30, 2010. Vice President Joe Biden's wife, Jill Biden, is a teacher at the high school, which berlokasidi near the capital Washington DC.
Provisions on loans are included in the study of health-care legislation signed by Obama last week. However, the article related to a loan program of study will require some changes as requested members of the House of Representatives before being legalized by the president.
These new regulations will position the U.S. government as main creditors for student tuition fees and shift the position of the bank, which had previously been an intermediary.
This regulation is capable of reaching the widest range. About half of undergraduates receive federal loans and approximately 8.5 million students will start college with the help of Pell Grant aid program of study.
Under the new law, private banks are not entitled to again be rewarded for their role as intermediaries in providing loans to students of the federal government.
The government will use the savings to boost Pell Grants and make it easier for workers in paying back the tuition fees. In addition, some borrowers will get a lower interest rate and a higher level of approval for a loan.
As quoted VIVAnews, Obama praised the changes that became a road for more lectures could be felt by students and their debt easier to manage after graduation.
Obama used a speech on radio stations and internet over the weekend to disclose profits for this young generation, which is more study loans, the deadline for repayment, and more funds for universities and colleges.
"Reform of federal student loan program will save taxpayers' money up to U.S. $ 68 billion in the next decade," Obama said in his weekly. "And with this endorsement, we allocate the money to achieve the goals I set for America: Pad the end of this decade, we will once again have the highest proportion of high school graduates in the world," he added. When these laws come into force in 2014, the repayment of the funds are limited studies on graduates 10 percent of income.
So the opportunity for students to continue their studies
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