A new student loan repayment program is now awaiting approval from President Bush before it goes into effect. The proposal, which is contained in the Higher Education Act, is part of an effort to make higher education more affordable an accessible.

Under the terms of the proposal, the attorney general will assume the obligation to repay the student loans of attorneys who commit to spending at least three years as criminal prosecutors at the state or local level, or as public defenders in criminal cases at all levels of government. The amount of the grant for each student is capped at $10,000 per year or $60,000 total. Repayment benefits will also be given on a preferential basis to those who have the least ability to repay their loans.

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