U.S. Rep. Rush Holt (NJ-12) speaks for the student aid and fiscal responsibility Act of 2009, which together make Holt's legislation to college more affordable for millions of Americans, while generating an estimated 87 billion U.S. dollars in savings over the next ten year through the conversion of all new federal student loans to a more stable and cost-effective Direct Loan Program.
On 17 September 2009 the House passed HR 3221, The Student Aid and Fiscal Responsibility Act. This law will change the way student loan programs, business loan rates through the promotion of the covenant "in all areas, including a 40 billion U.S. dollars increase in the Pell Grant scholarship program. It will keep interest rates low and make loans more easily understood and application forms are complete, the abolition of the cumbersome paperwork that makes the now, which aid like a daunting task. ... The measures