Student Aid and Fiscal Responsibility Act of 2009 - H.R.3221

The House is also scheduled to vote on this higher education bill that intends to fully fund maximum Pell Grants amounts, would simplify student financial aid forms, and would terminate the Federal Family Education Loan (FFEL) Program and replace it with the Education Department's Direct Lending program.

You can find information on the existing FFEL program at http://www.ed.gov/programs/ffel/index.htmlot. A summary of FFEL follows: 

While Bush was president, the Republicans allowed private banks to refinance students loans and many banks operated or contracted for boiler rooms to convince students to refinance their students loans at an unfavorable rate.

Wirehead was an IT administrator for one these companies until the Democrats took control of Congress and changed the law to stop this practice. Some of the upper level managers in the company he worked were making more than $5,000 a week when the GOP controlled congress. The company he worked for was a small business so other companies probably made a lot more.


According to wiki.answers.com:

Pell Grant eligibility is based on financial need. Although students with family incomes up to $45,000 may be eligible, most awards go to students with family incomes below $20,000. 

You can receive your Pell Grant once you have accepted a financial aid offer from your school. Funds are usually available at the beginning of the semester or quarter. The parent of student must fill out a financial disclosure statement in a Free Application for Federal Student Aid (FAFSA) applications to be eligible for a Pell Grant. President Obama has promised to simplify the tedious FAFSA application process.

Middle Class Warrior recently retired. While he was working, his modest family income exceeded the Pell Grant limit and he was unable to get the grant for one of his sons. Yet he has a friend who is a multi-millionaire who sent two of his children to school using Pell Grants. His affluent relative insisted "every one is eligible for Pell Grants.

It is likely the millionaire's children were able to get Pell Grants under the self-sufficiency rules for Pell Grants. The federal government is vague on what constitutes self-sufficiency. The child should not be a dependent on the parent's Income Tax 1040 form. They should also live outside of the domicile of the parents and have to be more than 50 per cent self-sufficient. 

States also have local rules when an unemployed person applies for a Pell Grant under the Workforce Investment Act (WIA). The child must also be able to prove that he or she is self-supporting.

Rightardia staffers always chuckle when the right wing insists that wealthy people have it bad in this country and have to bear 'the white man's burden.' Many ditto heads buy into this argument and think the country cannot function without tax cuts for the wealthy and an unequal distribution of income and wealth. As PT Barnum stated, "A sucker is born every day."

Rightardia has always contended that the wealthy are very advantaged and can hire accountants and lawyers to optimize their wealth. They also know how to benefit from government programs that were designed to help the middle class and the poor. Apparently the wealthy have figured out how to 'game' Pell grants.


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