Media Advisory

Tomorrow at 11 am in room 2175 of the Rayburn Building, the Education and Labor Committee is scheduled to mark up H.R. 3221, The Student Aid and Fiscal Responsibility Act of 2009.  This bill will end the wasteful Federal Family Education Loan (FFEL) program in favor of the Direct Loan program. 

As a member of the Education and Labor Committee, Rep. Petri has worked persistently toward this goal for over two decades.

When H.R. 3221 becomes law, as anticipated, Rep. Petri will have succeeded in his long effort to reform student loans in a way which guarantees affordable loans for students while saving taxpayers' money by eliminating unnecessary middlemen.  Indeed, the non-partisan Congressional Budget Office has determined that winding down the FFEL program in favor of the Direct Loan program will save the taxpayers $87 billion over 10 years.