VOTES WITH HOUSE TO APPROVE H.R. 5715, THE ENSURING CONTINUED ACCESS TO STUDENT LOANS ACT

Washington, May 1, 2008 - “The careers of the 21st century increasingly require a higher education,” stated Rep. Cliff Stearns (R-Ocala). “A college education leads to higher pay and more opportunities for the individual while strengthening the nation. I am pleased to join in approving this measure increasing the amount of loans available to students.” The House today approved the Senate changes to H.R. 5715, the Ensuring Continued Access to Student Loans Act, which means the bill goes to the President for his approval.

The bill increases the annual limit on federal college loans by $2,000 for all students, and raises the total loan limit for a student's full education to $31,000 from $23,000 for dependent undergraduates, and to $57,500 from $46,000 for independent undergraduates. The measure also ensures that parents affected by the current mortgage crunch can still access PLUS loans, which are loans for parents of students who have maxed out their student loans.