CNN.com reports that the Democrats have outlined their education agenda for when they take control of the House of Representatives next month. Democrats say that they will move quickly to cut interest rates on need-based college loans in half. The party also says that Pell Grants–which don’t have to be repaid–will likely see an increase in the total amount per grant, from $4,050 to $5,100. However, this could cost approximately $4 billion, so some in the party are pressing for a go-slow approach. The Democrats have not explained how they will pay for these initiatives, but Senator Edward Kennedy and Representative George Miller believe that money can be saved by directing students to government lending programs, rather than going to a bank which then receives government subsidies. However, Republicans are likely to oppose the plan, as they believe it is important to keep lending institutions in the student loan business…