The Higher Education Act is reauthorized every five years, with members of Congress having the option of tweaking the legislation. The act is up for review next year.
Adam Kovacevich, Lieberman's press secretary, said the senator has criticized President Bush for not adequately addressing higher education issues. Lieberman is developing a comprehensive higher education reform bill, Kovacevich said.
"The federal law that governs support for higher education is up for review next year, and Senator Lieberman ... really tried to wade into the debate with ideas about how to change federal policy toward universities," he said.
Kovacevich said one of Lieberman's main goals is to decrease the average amount of time it takes students to graduate from college.
"He said ... it's not just about getting students in the door, it's about making sure they perform and that they graduate," Kovacevich said.
"Half of the higher-income students graduated from college within six years, and only 7 percent of lower income students graduated within that time frame," Kovacevich said. "There's a huge gap there."
And Kovacevich said socioeconomic factors contribute to the disparity and that Lieberman has specifically criticized Bush for not increasing the amount of federal student aid.
He said Lieberman is specifically concerned with educating students in science and technology fields.
"From his perspective, the high-tech sector has been a large area of growth in the economy," Kovacevich said. "It really reflects a new approach to education. He's looking for bigger investment in schools in return for better results."