President Bush today received a bill that increases federal Pell Grants from 6,000 in 2009 to $8,000 by 2014 and provides greater oversight and transparency when applying for student loans. The bill passed overwhelmingly in the House and Senate and is expected to be signed into law. Applying for financial aid will be easier as FAFSA applications will be simplified into FAFSA-EZ: a two-page application inspired by the IRS's EZ tax forms. The new bill also includes the following:

• Pell Grants can now be used year-around instead of just the Fall and Spring semesters.
  
• Provides more protection and disclosure when applying for private student loans.
• Requires schools with the highest tuition increases to report to the Department of Education.
  
• Requires publishing companies to stop 'bundling' textbooks (with CD's) to keep costs low for students.

Senator Edward Kennedy of Massachusetts said in a statement that the bill  "takes major steps to expand college access and affordability" to low income students. He cited that nearly 800,000 students do not go to college simply because they cannot afford to attend. With the bill soon becoming law, it will provide greater resources for college as well as improved ways to apply for financial aid.