Since virtual schools were given access to federal aid several years ago, many online students have relied on student loans and grants to fund their education.

The new student loan bill may change the way these students pay tuition bills. The bill allots $20 billion for federal student aid. It increases the amount set aside for grants, while decreasing the amount set aside for loans.

Letting students graduate without the burden of loans sounds like a great idea, but some critics are concerned that less loan money could prove problematic for students who don't qualify for government grants. Check out the Universities-Weblog for more info on the new student loan bill.