Beginning July 1st, the first phase of largest college aid expansion in six decades kicks in, according to a release sent out from House Speaker Nancy Pelosi's office. This was part of the number of bills pushed through Congress in 2006 when the New Direction Congress rolled into town.

In efforts to help middle class families live more affordable, the House passed, among other things, a minimum wage increase as well as the the expansion in college aid which includes an expansion of Pell Grants as well as this reduction in interest rates which will cut in half by 2011 and will begin with a drop from 6.8% to 6.0%.

According to the release