Student Aid and Fiscal Responsibility Act
The Student Aid and Fiscal Responsibility Act of 2009 is a bill introduced in the U.S. House of Representatives of the 111th United States Congress by Congressman George Miller that would expand federal Pell Grants to a maximum of $5,500 in 2010 and tie increases in Pell Grant maximum values to annual increases in the Consumer Price Index plus 1%. It would also end the practice of federally subsidized private loans, using all federal student loan funding for Direct Loans and potentially cutting the federal deficit by $87 billion over 10 years. On September 17, 2009, the House approved the bill by a 253-171 margin.
On March 18, 2010, the text of this act was included as a rider on the Health Care and Education Reconciliation Act of 2010, signed into law on March 30, 2010 by President Obama as an amendment to the Patient Protection and Affordable Care Act.
