On Feb. 24, 2009, President Barack Obama said that by 2020 “America will once again have the highest proportion of college graduates in the world.” With the signing of the Health Care and Education Reconciliation Act on March 30, the Obama administration made a firm step towards achieving this goal.

According to the White House the legislation will improve the nation’s education system by increasing funding for Pell Grants twofold and investing in community colleges and minority serving institutions. The reform will also provide students with support to manage their loan debts. Students, who accept loans after July 2014 and keep up their payments, will be forgiven their loans after 20 years instead of 25 years. If they serve in the public sector, assuming teaching or nursing positions, for instance, they will be forgiven the debt after ten years.

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