New IBR Numbers, Take Action Now to Protect Pell Grants

New IBR Enrollment Numbers

IBRinfo has learned that more than 232,000 federal student loan borrowers were successfully enrolled in Income-Based Repayment (IBR) by the end of November 2010! This is a great start - but many more borrowers could benefit from IBR, if only they knew about how it could help make their loan payments more affordable. Please take a moment to help spread the word and tell a friend about IBR.


Tell Congress: Don't Slash Pell Grants or Block Gainful Employment Rule

In recent email updates, we warned you about threats to the federal Pell Grant and the importance of a strong "gainful employment" regulation. Now is the time to take action against harmful House proposals on these issues:

Drastic Pell Grant Cuts Proposed in House: Late last Friday, the House majority unveiled H.R. 1, which makes drastic cuts to the current year's federal budget (fiscal year 2011). This bill cuts the maximum Pell Grant for students this fall by at least $845 and eliminates an additional $56 billion in mandatory Pell funding over the next 10 years. These cuts would reduce or eliminate crucial Pell Grants for more than 8 million students, making it impossible for many to start or stay in school. Most recipients have family incomes under $50,000 and already have to borrow more than other students to complete college.

Controversial Amendment Would Block Gainful Employment Rule: There is broad and diverse support for a strong gainful employment rule. The pending rule would prevent taxpayer-funded federal financial aid from going to wasteful career education programs - for-profit, nonprofit, or public -- that consistently leave students buried in debt they can't repay. But a controversial amendment to H.R. 1 would block any gainful employment rule and force the Department of Education to turn a blind eye to waste, fraud and abuse while students and taxpayers are left holding the bill.

These harmful proposals are being debated in the House this week. CALL OR EMAIL NOW to ask him or her to preserve the maximum Pell Grant and protect students and taxpayers from rip-off career education programs.

Take Action Now!

 

(This message was sent to the IBRinfo email list on February 14, 2011)

Income-Based Repayment and Pay As You Earn are two ways to help keep monthly payments affordable based on your income and family size. Visit the Department of Education’s Repayment Estimator to find out what your payments might be.
 

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