Washington Report

House Passes College Cost Reduction Act, Veto Threatened
The U.S. House of Representatives has approved legislation that would cut nearly $19 billion from the Federal Family Education Loan Program during the next five years and reallocate much of those savings to increased Federal Pell Grants and other student-aid programs. Read more.

House Panel Approves 2008 Student-Aid Appropriations
A U.S. House committee has approved a fiscal-2008 appropriations bill that would increase the maximum Pell-Grant award by $390, to $4,700. As part of the same appropriations bill, the House Appropriations Committee also voted to restore funding that the Bush administration had proposed to eliminate for several federal student-aid programs. Learn more.

USA Funds Update

USA Funds Updates and Expands Online Training
USA Funds^® University has added new online-learning courses about Federal Family Education Loan Program repayment options and loan proration, to help financial-aid professionals improve their skills in administering federal student aid at their schools. Learn more.

Tech Talk

Schools’ Test of USA Funds Loan Counselor Components Yields Positive Results
USA Funds school-customers have completed the testing of USA Funds Student Loan Transition Guide^SM, and of enhancements to other features of the USA Funds Loan Counselor^SM suite of online-counseling products. Read more.

Debt-Management Perspectives

Content in Borrower Reports Still Reflects Partial Block of NSLDS Access
Borrower Debt Management Information Service correspondence continues to provide data that reflects only loans guaranteed by USA Funds. Read more.