The College Cost Reduction Act of 2007 will provide the single largest investment in higher education since the GI bill. And it will do so at no new cost to taxpayers, by cutting excess subsidies paid by the federal government to lenders in the student loan industry.

College costs have grown nearly 40 percent in the last five years. Students are graduating from college with more debt than ever before. (I should know, I just graduated with a Bachelor's degree). The United States is lagging behind in its once top of the world education system.

More information about the bill available here