Funds for College At Historic Highs

Funds for college are at historic highs. In 2006 the Department of Education will make or guarantee more than $60 billion in low-cost student loans, a $4 billion increase over 2005 levels. Overall, $82 billion in grants, loans and other assistance are expected to benefit more than 10 million students - 413,000 more than last year.

More aid is being targeted toward the 21st century skills valued by employers. New Academic Competitiveness grants and SMART grants, which build on the successful Pell Grant program, will benefit more than half a million low-income college and college-bound students who took rigorous coursework in high school or who are majoring in math, science and critical foreign languages. These subjects are key to America's economic competitiveness and national security.

Source: Margaret Spellings, Secretary, US Dept. of Education