Student Aid and Fiscal Responsibility Act (SAFRA) of 2009 Resource Center
The bill would eliminate the Federal Family Education Loan Program (FFELP) and redirect those savings to increasing the Pell Grant and funding multiple other K-12 and post secondary education programs, including the President's proposed American Graduation Initiative which would pump $12 billion into community colleges and add 5 million new graduates by 2020. The bill would replace the current Federal Perkins Loan Program with a new Federal Direct Perkins Loan Program.