College Student Relief Act of 2007
COLLEGE STUDENT RELIEF ACT OF 2007
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Ms. DeLAURO. Mr. Speaker, of all the barriers that families have faced these last several years, from the rising cost of health care and energy, to the outsourcing of good-paying American jobs, few have had as chilling an impact on opportunity as the skyrocketing cost of college tuition. The last 5 years, tuition at public universities shot up more than 40 percent.
These kinds of financial barriers prevent about 4.4 million high school graduates from attending a 4-year public college over the next decade, 2 million high school graduates finding themselves unable to attend any college at all. This, when the United States has talked about a proposed projected shortage of up to 12 million college-educated workers by 2020.
There are so many challenges before us, breathtaking challenges that impact every American. This Congress has to recognize how closely tied access to a quality education is to our economic prosperity, our national security, our civic health. Strengthening those bonds, reaffirming our commitment to our Nation's family, that is what this legislation is about. Cutting the interest rate for undergraduate students with a subsidized student loan in half over the next 5 years, we can help 5.5 million students fulfill their dream.
In Connecticut, more than 33,000 students currently take out 4-year loans. They have an average debt of $14,200. We are going to help these youngsters save more than $2,300 over the life of the loan.
I happen to represent an area with many first-rate universities. The time has come to make these universities and the lifetime of opportunity they unleash accessible to every American, to every parent who wants to send their child to college.
Lowering college costs is about expanding opportunity. It is what government should be all about. It is the reason why the people in our communities send us here, to try to help them have the opportunity to have an education for their children at a rate that they can afford, an interest rate that they can afford.
Let's help them with the college loans. This legislation deserves our support.
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