Finally, it has arrived. Perhaps it is too late for me, my pockets are already dry, but it's not too late for you! CBS  news reported yesterday that congress is in the process of passing a law that will help keep money in students’ pockets and out of government and board of trustees’ hands.

This new legislation is meant to impede the “sharp” rise of tuition, lower the cost of textbooks, “and make Pell grants available year-round.” There is also talk of a government watch list with the names of colleges known for having severe tuition hikes. 

A vote will take place within a few days. If this legislation goes through, students could be able to be notified in advance about which textbooks they need for courses (giving them more time to shop around) and professors would be able to find out the price of books before they assign them.

Click the video below to find out what financial adviser, Ray Martin, has to say on the matter.