On Friday, September 7, within hours of each other, the House and Senate passed the biggest infusion of money into the Pell Grant program ever. As part of H.R. 2669, the College Cost Reduction Act, Congress enacted roughly $20 billion in cuts to student loan lender subsidies - and turned them into Pell Grant increases, student loan interest rate cuts, a loan forgiveness program, a teacher grant, other student benefits, and a little bit of deficit reduction. (For details, see "Key Provisions in H.R. 2669," below.) The big winner in the bill is the Pell Grant program. The Pell Grant...