How do SAFRA policies specifically help students, and what happens if this bill fails?
[One] consequence is that we continue using a broken, wasteful, and corrupt system to get loans to students when we have another alternative that already exists. The benefit to students is that if it passes, there will actually be an increase to the Pell grant. There will be additional funding for minority-serving colleges. There will be more money for programs to promote college access. So this is a big benefit for young people. Because Congress was forced to wait so long, the savings on paper that this bill would create [over the next 10 years] were reduced [from $87 billion to $67 billion, according to Congressional Budget Office figures from July 2009 and March 2010]. So a lot of the great education priorities that were in the early House bill, like the investments in early learning and in community colleges, may not make it into the final bill. The reason for this is that we have these two systems. One is wasteful and gives subsidies to banks in order to make loans, and in the oth
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