Legislation stems from Congressman’s college affordability listening tour
WILMINGTON — Congressman John Carney (D-DE) last week introduced H.R. 5566, theSMART Grant Reauthorization Act, which would offer additional Pell Grants for low-income students majoring in a Science, Technology, Engineering, or Mathematics (STEM)-based field. The legislation is the second in a series of bills the Congressman is unveiling that are the product of his year-long effort to address the rising cost of college. Over the past three decades, college costs have gone up 570 percent. They’ve increased at four times the median household income, and twice as fast as health care costs. Total U.S. student loan debt recently topped $1 trillion, which surpassed the total owed on both auto loans and credit card debt.
The SMART Grant Reauthorization Act enables students from low- and middle-income families to better afford a degree in critical STEM fields. The bill reauthorizes a program that awards $4,000 SMART Grants to eligible college Juniors and Seniors who are both majoring in the STEM fields and Pell Grant recipients. Eligible recipients must be pursuing a major in the physical, life, or computer sciences, mathematics, technology, or engineering and have a cumulative 3.0 grade point average. Federal Pell Grants are awarded on a sliding scale based on financial need, up to $5,500 per year. They do not need to be repaid, and so do not contribute to students’ loan burden upon graduation. The SMART grants are in addition to the base Pell Grant award. The original SMART (Science and Mathematics Access to Retain Talent) Grant program expired in 2011.
“Higher education is key to our country’s economic competitiveness, but the cost of college is higher than ever,” said Congressman Carney. “Across the state, I’ve heard from employers who struggle to find individuals trained in STEM fields who are qualified to fill open positions. This bill gives those students who are committed to the STEM field an added incentive to stay in school, get their degree, and graduate ready for the workforce, without accumulating a mountain of debt.”
Beginning last summer, Congressman Carney embarked on a comprehensive effort to understand the factors behind the rising cost of higher education and to explore options for making college more affordable. The Congressman hosted a roundtable discussion with Delaware parents, guidance counselors, and a college financial aid counselor to gain insight into the current financial aid system. He also hosted a telephone town hall meeting with more than 4,000 Delawareans to learn about their experiences and challenges surrounding the cost of higher education. The Congressman hosted additional discussions with current college students, recent graduates, and a credit counselor to better understand the challenges young people with student loan debt face. He also spoke extensively with administrators from the University of Delaware, Delaware State University, Delaware Technical & Community College, Wilmington University, Wesley College, and Goldey-Beacom College.
Click here to read more about the SMART Grant Reauthorization Act.
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