On July 11, 2007, Bachmann voted against the College Cost Reduction and Access Act that raised the maximum Pell grant from $4,310 to $5,200, lower interest rates on subsidized student loans to 3.4 percent from 6.8 percent, raise loan limits to $30,500 from $7,500, disfavor married students who file joint tax returns, provide more favorable repayment terms to students who fail to use their education to prosper financially and favor public sector over private sector workers with much more favorable loan forgiveness benefits. Supporters of the bill said "it would allow more students to attend college". Bachmann said her opposition was because "it fails students and taxpayers with gimmicks, hidden costs and poorly targeted aid. It contains no serious reform of existing programs, and it favors the costly, government-run direct lending program over nonprofit and commercial lenders." The bill passed the House and was signed by President Bush.