With emotions charged over the redesign of the nation's health care system, little has been said about the revamping of the America's higher education system -- particularly student loan reform -- an important part of the bill. Obama's message with educational reform is that he wants the United States to lead the world in the number of college graduates by the year 2020.

In a conference call yesterday, John S. Wilson, executive director of the White House Initiative on Historically Black Colleges and Universities, explained how HBCUs will be directly affected.

Wilson reiterated the White House's intentions to spotlight the achievements of HBCUs and to continue to support them through funding. Members of the White House will be speaking this graduation season at HBCUs around the country:

President Barack Obama will be the commencement speaker at Hampton University.

First Lady Michelle Obama will be the commencement speaker at the University of Arkansas at Pine Bluff.

Valerie Jarrett will be the commencement speaker at Morgan State University.

Melody Barnes, director of the White House Domestic Policy Council, will be the commencement speaker at Virginia Union University.

"The success of these institutions is vital for the success of all Americans," said Wilson. "It's all in the context of the 2020 goal."

Here are some ways students at HBCUs will be directly affected:

* There will be a delivery of $1 billion in mandatory funding over the next 10 years to renew, reform and expand programs. Wilson says he hopes to see schools expand faculty and lab equipment and to gain new academic programming for new majors.

*The first payouts will be available in October ($61 million will go toward those institutions' graduate programs).For all students:

*The law will expand the current income based repayment programs, capping it at 10 percent of a student's income upon graduation. If students keep up with their payments over time, their balance will be forgiven after 20 years. As under current law, public service workers, such as teachers, nurses and those in military service, will see any remaining debt forgiven after only 10 years.

According to Department of Education estimates, of the 1.2 million borrowers projected to qualify and take part in the expanded IBR program between 2014 and 2020, approximately 222,000 are expected to be African Americans.

*The law changes how student loans are administered. Borrowers used to be able to get college loans from either banks or the federal government. In return for administering loans to students, private banks received federal subsidies to provide student loans.

Under the new law, private banks will no longer handle federally backed student loans. Instead, the federal government will be the only lender to students. Supporters say the overhaul eliminates the fees banks get to act as the middlemen, saving the government billions of dollars.

*Student loans will originate through the new system starting on July 1, 2010.

*The cap on monthly loans will be lowered, from the current 15 percent of discretionary income to 10 percent, which will shorten the repayment window of 25 years to 20, after which the balance might be forgiven.

* There will be a net savings of $62 billion over the next decade.

The House Committee on Education and Labor says the provisions will reduce the deficit by at least $10 billion over the next 10 years.

*Over the next 10 years, $36 billion of the savings from the student loan reform will go in to the Pell grant program, which provides funding for low-income students to go to college.

For the 2009–2010 school year, the maximum Pell grant award was $5,350. The White House says that without reform, the grant would have dropped to $2,150 next year. With the new law, the grant will grow to $5,975 by 2017.

According to the White House, the new law covers the expected budget shortfall and will keep the program stable in future years.