The Senate’s Higher Ed Act Renewal

The U.S. Senate education committee fleshed out its bipartisan package of legislation to renew the Higher Education Act Tuesday, calling for $17 billion in new funds for Pell Grant recipients and $18 billion in cuts to student loan providers over five years. The Senate panel also revised a Higher Education Act renewal bill it had released Monday in several key ways, most notably abandoning a plan to require accreditors to ensure that colleges do not discriminate against for-profit colleges in their policies on the transfer of academic credit.