WASHINGTON, DC – Congressman Bill Delahunt, along with the Massachusetts Educational Financing Authority, today announced that they will be sponsoring a forum on financial aid to be held on Saturday, November 10, 2007.

The forum will be held at the Massachusetts Maritime Academy’s Admiral’s Hall at 101 Academy Drive in Buzzards Bay, from 10AM to 12 Noon. Prior to the start of the program, representatives from local area colleges will be available to speak with students and their parents beginning at 9AM.

“This year, the Congress followed through with a commitment to make college more affordable for all Americans and passed the single largest investment in college financial assistance in over 50 years” Delahunt said. “The purpose of this forum is to provide families with the information that they need as they begin to plan for impending college costs.”

Officials from the Massachusetts Educational Financing Authority will be providing an overview of several topics, which will include information on completing the Free Application for Federal Student Aid (FAFSA), the financial aid application and award process, and MEFA’s parent assistance services. 

Delahunt has long advocated for reducing the cost of student loans and has supported efforts in the Congress to make college affordable for more Americans.

In September, the President signed into law the College Cost Reduction Act of 2007, a “New Direction” legislative priority of this Congress. This legislation eases the financial burden imposed on students and families by the cost of college by:

• Cutting interest rates in half on subsidized student loans over the next four years
• Making student loan payments more manageable for borrowers
• Increasing the maximum Pell Grant scholarships over the next 5 years
• Expanding eligibility through needs analysis to include and serve more students with financial need
• Providing upfront tuition assistance to qualified undergraduate students who commit to teach in public schools
• Providing loan forgiveness after 10 years of public service

In Massachusetts alone, this legislation has increased loan and Pell Grant aid to students and families over 5 years by $522,318,000. In addition, it will save each student in the Commonwealth $4,180 by cutting interest rates. 

For more information about federal student financial aid, such as eligibility requirements, application instructions or repayment options, please call Rep. Delahunt’s office toll-free at 800-794-9911.

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