House Democrats introduce reauthorization bill

U.S. House Democrats have introduced the first of what they promise will be a series of legislative proposals for reauthorizing the Higher Education Act. Among other things, the College Opportunity for All Act would eliminate loan-origination fees, permit borrowers to reconsolidate previously consolidated student loans, eliminate the so-called single-holder rule for loan consolidation, and raise the maximum Pell-grant award to $11,600 by 2011.