A lot more than 22,000 Ohio students will receive additional cash for college following the U.S. House of Representatives’ 220-207 vote late Thursday, March 25, to approve the Senate’s reconciliation wellness care bill.
In one of the much less publicized sections from the federal health care package, there will be an estimated $1.2 billion additional in Pell Grants for Ohio students over the following 10 years, based on Sen. Sherrod Brown, D-Ohio.
There also will be an extra $13 million to support Ohio’s historically black colleges and universities along with around $22 million to continue the state’s College Access Challenge Grant to promote college-readiness for low-income college students.
“This is really a victory for college students and middle class families,” Brown said. “For as well lengthy, our country has paid private lenders to make loans that the federal government can and does make directly for much less money. By redirecting this money, this bill is great for taxpayers and good for our economic competitiveness.”
Senate Republicans objected to a section of the college loan funding changes in the bill.
Butler County currently receives around $12 million in federal Pell Grant money. This legislation would essential alter how the federal government money the Pell Grant program.
Currently, the government pays banks immediately to give to students. All federal student loans will be financed immediately through the government — generating $61 billion in savings over 10 years, according towards the Congressional Budget Office, which will be utilized to boost Pell Grant scholarships. These modifications would make student loans a lot more manageable for borrowers to repay, and bolster community colleges’ attendance.