Chicago Office of Financial Aid > Recent news about the College Cost Reduction and Access Act

Recent news about the College Cost Reduction and Access Act

Congress has recently passed the College Cost Reduction and Access Act and President Bush has signed it into law. This legislation will have an impact on federal loan programs, most of which will not go into effect until the 2008-09 academic year. While most of the provisions will be to a borrower's advantage, there is still some question about how cuts in lender subsidies will impact student loan fees and borrower benefits. Our office is closely monitoring the effects of this legislation and will provide you with all relevant information as it becomes available. Please continue to check our website for updates.

In the meantime, you can find more information about the College Cost Reduction amd Access Act at http://www.nasfaa.org/publications/2008/gen0801.html.