Speaker Pelosi held an event at the Capitol yesterday to sign and send to the President very important legislation to make college more affordable.  Here's an excellent quality cell phone shot of the Speaker, Senator Ted Kennedy, Rep. George Miller, Rep. Joe Courtney, and others -- all leaders in this effort to stop the shameful government handout to lenders and use the money to help students afford college. There’s also video of the event. 

 None of this would gave happened without the efforts of young people, through Campus Progress's Debt Hits Hard Campaign, through our Campaign for College Affordability coalition, and other efforts, to demand change.  The efforts of New York State Attorney General Andrew Cuomo, a number of journalists, our own Pedro de la Torre, and others to investigate and expose bad practices and shady dealings between lenders and financial aid offices were also critical. 

The work is by no means done.  College is still out of reach for far too many young people.  One area that needs reform now is private loans, the ones not guaranteed by the government.  Lenders need to present clearer information to students about loan terms – and about the fact that students are better off obtaining all the federally guaranteed loans they can before seeking private loans. 

Right now you can weigh in on this debate, expose more bad behavior, good behavior, or other key facts about financial aid and the loan industry, get your work noticed, and potentially win $2500 to pay tuition or pay off student loans.  It’s our College Affordability Essay Contest – deadline October 29.  Enter now!