Rep. Serrano votes to boost financial aid

College students nationwide may soon get extra help paying for their education.

The House of Representatives has passed the College Cost Reduction Act of 2007. The bill is designed to increase aid by $18 billion over the next five years and cut interest rates on need-based loans.

Congressman José Serrano, who represents the Bronx, was among the lawmakers who voted in favor of the measure. The act is expected to help millions of students, including those at local universities, such as Bronx Community College.

The Senate is expected to vote on the measure later this month.

The White House has said President Bush would veto the bill in its current form. The president believes the act doesn't do enough for the most needy students and would cost too much to enact.

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