President Obama is expected to sign into law  today the reconciliation bill passed by Congress this week that will bring great change both to health care and student aid in the United States.

Yesterday, the U.S. Senate passed major student aid reform in the afternoon. In the evening, the House considered the Senate-amended legislation and passed the reconciliation bill with a vote of 220-207.

The new law will make major investments in the Pell Grant Program and other student aid and higher eduation programs.  Many of these investments will be made from the savings at the federal level of the elimination of the Federal Family Education Loan Program (FFELP).