health care and education reconciliation act, notes.

• goal to make US, once again, the nation with the highest proportion of college graduates
• cutting out the middle man (banks) in student loan, save $68 billion
• already happened at biden’s community college: 41% increase in pell grant recipients; 59% total dollar increase of pell grant; 43% federally guaranteed loans; 68% loan awards
• reinvest the $68 billion in the following:
  1. community colleges:
  provide resources to improve community colleges
  forging private partnerships to ensure
  host a forum on community colleges at the white house

  2. pell grants reinvest savings in pell grants
  once covered over 75% the cost of college, now can only covers about 33%
  over 800,000 additional awards and raise their value to (by?) $6,000 to offset inflation
  firmer footing for pell grants
  doubling the dollar amount designated

  3. how students pay off student loans
  average student graduates with over $23,000 in debt
  make it easier for responsible students to pay off their loans
  currently, you don’t have to spend more than 15% of your income on loans — starting in 2015 (?) you won’t have to pay more than 10% of your income on student loans
  meaningful difference for over 1 million
  pay loans on time, only pay for 20 years pay loans on time,
  only pay for 10 years if you serve our country (teacher, nurse, armed forces)

  4.  HBCU, black colleges and minority serving institutions

• tax credits, simplify fafsa, redirecting poorly spent money to make sure we’re making investments in our future
• now this won’t solve all our problems in higher education colleges have to do their part to hold down costs
• help more students enter college, but also help more students successfully earn a college degree
• urgent need for us to lay a new foundation for our economy and our future — pillars are healthcare and education
• rightly say, foundation upon which america’s foundation will be built is stronger than it was one year ago.
• so at the end of this extraordinary week, i want to acknowledge those people who made it possible…