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I see that the Senate has just passed a bill regarding student loans and Pell Grants. Brief articles are available all over the web but here is a link to the story on CNN Money: http://tinyurl.com/yscove"The bill includes a temporary reduction in student loan borrower interest rates and a phased-in, $1,090 increase in the annual maximum Pell Grant to $5, 400 a year.Monthly loan payments would be capped for many guaranteed student loan borrowers at 15% of income, borrowers taking jobs in public service would see their loans forgiven after 10 years, and all guaranteed student loan borrowers could see their debts forgiven after 25 years."I realize that this bill needs to get past the President yet, but I am wanting details about the exact provisions in this bill (specifically how the decrease in the interest rates is going to work) as I am in grad school now and taking out LOTS of expensive loans. But I can't find any specific details in any of the articles I've googled. Does anyone know the details contained in this bill or a website that might be helpful to find this info out?Thanks!
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