On Tuesday, July 21st, the House Education and Labor Committee will consider legislation that will make college dramatically more affordable by investing billions of dollars in additional student aid, at no cost to taxpayers. The Student Aid and Fiscal Responsibility Act of 2009 will generate almost $100 billion in savings over the next ten years that will be used to boost Pell Grant scholarships, keep interest rates on federal loans affordable, safeguard federal student loan access for families, and enact President Obama’s key education priorities. The legislation, which was introduced earlier today, pays for itself by making the federal student loan programs more reliable, effective and cost-efficient for students, families and taxpayers.
WHAT:
Full Committee Mark-Up of H.R. 2187 “H.R. 3221, The Student Aid and Fiscal Responsibility Act of 2009”
WHEN:
Tuesday, July 21, 2009
11:00 a.m. ET
Please check the Committee schedule for potential updates »
WHERE:
House Education and Labor Committee Hearing Room
2175 Rayburn House Office Building
Washington, D.C.
WHAT:
Full Committee Mark-Up of H.R. 2187 “H.R. 3221, The Student Aid and Fiscal Responsibility Act of 2009”
WHEN:
Tuesday, July 21, 2009
11:00 a.m. ET
Please check the Committee schedule for potential updates »
WHERE:
House Education and Labor Committee Hearing Room
2175 Rayburn House Office Building
Washington, D.C.
Congratulations to Congressman Miller and the House Education and Labor Committee on the landmark bill to increase funding for needy students--The Sudent Aid and Fiscal Responsibilty Act. Our country's neediest students will benefit from the increase in Pell Grant funding and all students will benefit from an improved and more cost effective student loan delivery process.
Please do not be persuaded by lending industry lobbyists who argue that competition is the key to an effective and efficient loan delivery model. The existing Federal Direct Loan Program has proven that a government run program can be efficient and cost effective. These arguments would support corporate profits instead on needy students.
I urge my financial aid colleagues to consider our most important constituency--needy students--not administrative fears in considering this change. Hundreds of schools have converted to the Direct Loan Program during the last year and have reported that the transition required less resources than anticipated and that the Department has provided the support needed to make the transition successful. Remember that the community resisted BEOG and COD when first introduced. A program and a process that are now very successful.
Thanks for Supporting Students!