WASHINGTON, D.C. – U.S. Rep. George Miller (D-CA), the chairman of the House Education and Labor Committee, today applauded the House for passing the Budget Resolution for Fiscal Year 2010, which makes investments in education a key priority. The House approved the budget by a vote of 233 to 196.
Among other things, the resolution includes instructions for Miller’s committee to enact reforms that produce $1 billion in savings for taxpayers over the next five years. Miller has said the committee intends to use these instructions to expand college access by enacting student loans reforms that will benefit American families and taxpayers.
“This budget marks a new beginning for our country and for our children by making a clean break from years of disastrous fiscal policies that failed to look toward the future. As President Obama has made clear, we can no longer afford to kick the can down the road on the key challenges we face – health care, education, and energy. The American people know this and our budget reflects this. It will turn our economy around and put our nation on a path toward fiscal health by making bold, long-term investments in our children, students, workers and families.
“Like President Obama’s blueprint, our budget is a roadmap for a strong, prosperous future by making education a top priority. It responds to what business leaders and stakeholders across the board have told us: That we must improve our American education system so we can emerge from this crisis stronger, better educated and more competitive. It builds on the historic education investments made in the economic recovery plan that will help every child, from their earliest years through college, get a good, 21st century education.
“It also gives us the opportunity to make college more affordable for millions of families struggling to pay tuition while losing jobs, income and benefits. I agree with President Obama that there is an urgent need to modernize our federal student loan programs so that they operate in the best interests of students, families and taxpayers. This budget will allow us to make federal student loans more reliable and efficient for families while reinvesting billions of dollars in savings in education.”
One student loan reform option that could be explored is President Obama’s proposal to use federal funds to originate all new federal college loans beginning in the 2010 school year. The Congressional Budget Office estimates this proposal will save taxpayers almost $100 billion over ten years.
To view the CBO estimate, click here.
For more information on President Obama’s proposal, click here.
“This budget marks a new beginning for our country and for our children by making a clean break from years of disastrous fiscal policies that failed to look toward the future. As President Obama has made clear, we can no longer afford to kick the can down the road on the key challenges we face – health care, education, and energy. The American people know this and our budget reflects this. It will turn our economy around and put our nation on a path toward fiscal health by making bold, long-term investments in our children, students, workers and families.
“Like President Obama’s blueprint, our budget is a roadmap for a strong, prosperous future by making education a top priority. It responds to what business leaders and stakeholders across the board have told us: That we must improve our American education system so we can emerge from this crisis stronger, better educated and more competitive. It builds on the historic education investments made in the economic recovery plan that will help every child, from their earliest years through college, get a good, 21st century education.
“It also gives us the opportunity to make college more affordable for millions of families struggling to pay tuition while losing jobs, income and benefits. I agree with President Obama that there is an urgent need to modernize our federal student loan programs so that they operate in the best interests of students, families and taxpayers. This budget will allow us to make federal student loans more reliable and efficient for families while reinvesting billions of dollars in savings in education.”
One student loan reform option that could be explored is President Obama’s proposal to use federal funds to originate all new federal college loans beginning in the 2010 school year. The Congressional Budget Office estimates this proposal will save taxpayers almost $100 billion over ten years.
To view the CBO estimate, click here.
For more information on President Obama’s proposal, click here.
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