Bill to Boost College Aid Wins Approval in Congress

Billed as the largest single investment in higher education since the GI bill , final legislation passed by Congress this month would increase grants to needy college students, slash subsidies to lenders, and establish a program of forgiving loans to future teachers who stay in the profession.

The Bush administration had objected to an earlier House version of the College Cost Reduction and Access Act and threatened a veto, but Secretary of Education Margaret Spellings recommended that President Bush sign the bill, according to her spokeswoman, Samara Yudof.

The bill, crafted in a conference committee early this month, was still awaiting the president’s signature as...