House committee passes landmark student aid bill.

The House Education and Labor Committee yesterday passed the College Cost Reduction Act of 2007, the “single largest investment in college financial aid since the GI Bill, helping millions of students and families pay for college — and doing so at no new cost to U.S. taxpayers.” The legislation boosts college financial aid by nearly $20 billion over the next five years, paying for itself “slash[ing] government subsidies paid to student lenders.” More details HERE.