College students in Iowa will start to see some light at the end of the tunnel as a result of a $20 billion act passed by Congress earlier this year. Sen. Tom Harkin announced yesterday that the College Cost Reduction and Access Act and the Ensuring Continued Access Students Loans Act will go into effect, helping students meet the rapidly increasing tuition costs.

“It’s targeted to help students as college costs are rising,” said Semonti Mustaphi at Sen. Harkin’s office in Washington, D.C. “It helps students meet their educational goals.”

The new acts, which were passed earlier this year but are just now going into effect, will provide lower interest rates on federal student loans, increase maximum Pell Grant awards, utilize the new Public Service Loan Forgiveness Program, and defer payments for parents who take out PLUS loans.

Directed mostly at students nationwide, the $20 billion will allow students to access more aid and cheaper loans, Mustaphi said. “With costs going up, every bit helps.”

Currently, Iowa ranks sixth-highest in the country in the amount of debt accrued by students at four-year universities, with the total debt averaging $22,926 per student.