College Cost Reduction and Access Act

The College Cost Reduction and Access Act, enacted in 2007, aims to make college more affordable for students and their families. It increases federal financial aid, lowers student loan interest rates, and improves income-based repayment options. The act also expands Pell Grants, which are funds for low-income students, and incentivizes institutions to keep tuition costs manageable. Overall, it is designed to help more people access higher education by reducing financial barriers and supporting students through better loan management.