Press Release
CONGRESSMAN HENRY CUELLAR’S AMENDMENT WILL ENSURE CONTINUED ACCESS TO STUDENT LOANS
Washington,
July 7, 2007
Today, the U.S. House of Representatives passed the College Cost Reduction Act that included an important amendment offered by Rep. Henry Cuellar. The Cuellar Amendment requires the careful consideration of the potential consequences of alterations to the Federal Family Education Loan Programs (FFELP). The FFELP provides more than $50 billion in low-cost loans every year, servicing over six million students and their families. The Cuellar Amendment will ensure that studies done on the effects an auction system would have on the FFELP will be evaluated by Congress before any changes are implemented. “I have seen the benefits of strong student loan programs and services in my state, and this bill takes a crucial step in reducing the cost of college for students nationwide. I applaud my colleagues for passing this timely and important bill and including my amendment,” said Cuellar. The College Cost Reduction Act aims to make higher education available to more students across the nation. It seeks to increase the purchasing power of Pell grants, make student loans more affordable and increase student loan forgiveness, especially in areas of need. The bill calls for a state and federal commitment to reducing the cost of college. “Making college affordable and accessible to every student in the nation has to be one of our top priorities. With a commitment to the education of every American, we will help to create a workforce that is educated and competitive in the global economy,” Cuellar continued. “When we work to extend educational opportunity to every corner of our great nation, we build for improvements for generations to come. This bill and my amendment represent the priorities of nation. We will continue to strive to create good legislation that will better the lives of the American people,” said Cuellar. |