Student Loan Reform 101

What the new law, shoehorned into the health care bill at the eleventh hour, means for college kids.

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Also read: The rest of the 2010 MoJo Mini College Guide, plus the 2009 MoJo Mini College Guide.

Congress reformed more than just health care this year. Below, four ways the Student Aid and Fiscal Responsibility Act affects you:

 Your federal Stafford Loan will now be made directly by the Department of Education, saving the government tens of billions it used to pay in administrative fees to companies like Sallie Mae.

 If your parents’ combined income is less than $50,000, you qualify for a Pell Grant (PDF), and your yearly scholarship will increase by as much as $425.

 Community colleges and historically black- and minority-serving schools will get grants totaling $4.5 billion to use at their discretion.

 Once you finish school, your loan payments can be no more than 15 percent of your monthly salary. Students borrowing after 2014 will have to set aside only 10 percent of their paycheck for loans.

Also read: The rest of the 2010 MoJo Mini College Guide, plus the 2009 MoJo Mini College Guide.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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