The Freedom From Debt Blog

The House of Representatives passed a bill on Thursday aimed at slowing down the rapidly rising costs of secondary education and decreasing the burden of student debt.  Despite strong opposition from the Bush administration, the bill passed easily by a vote of 354-58.  The legislation proposes to establish a list, published by the federal Education Department, of the most expensive colleges in the nation.  The bill also hopes to limit how student loan companies use relationships with college officials to gain access to the student body. 

 A main goal of the bill is to discourage universities from raising tuition by publizicing which colleges are the costliest to students.  States that decrease funding to public colleges and universities would also be at risk of losing federal funding.  Many lawmakers expressed hope that the bill would create a much more affordable, less financially complex higher education system.  An amendment to the bill would also require college to report how much of their endowment they are spending to keep the costs to students down.   

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