On Wednesday the House of Representatives voted to increase the amount of money that students could borrow.

The legislation was seen as a way to offset the loss of financial aid opportunities that many states have been forced to stop due to lower state revenues.

Earlier this year Pennsylvania Higher Education Schollarships were placed on hold and other states have followed this lead with reducing or halting programs for students.

Critics say that the increases in Loan Amounts could backfire as Student Default Rates are increasing even when they have the ability to pay back moneys borrowed for college.