College Student Relief Act of 2007

COLLEGE STUDENT RELIEF ACT OF 2007 -- (Extensions of Remarks - January 19, 2007)

* Mr. WILSON of South Carolina. Madam Speaker, I oppose H.R. 5 as it is written and support the alternative proposal by Ranking Member Buck McKeon. As the father of three college graduates and a college freshman, I am all too familiar with the financial burden higher education poses to families and students. That is why I am proud of Republican efforts to expand college access and increase affordability.

* During the past decade, House Republicans under the leadership of John Boehner and Buck McKeon tripled overall Federal aid to a record $90 billion, helping millions of Americans achieve their dream of a college education.

* In addition, Republicans increased new aid for Pell students more than $4 billion over 5 years, establishing the first ever grant program for high achieving Pell students in their first and second years of college. The program also provides grant aid to low income, high achieving students pursuing degrees in math, science, and critical foreign languages in their third and fourth years.

* As lawmakers, our number one concern with regard to higher education should be to ensure that college is affordable for any student. Unfortunately, as H.R. 5 is currently written, it pits the Federal Family Education Loan Program, FFEL, against the Direct Loan program, DLP, and by doing so creates an imbalance in the student loan industry that is so lopsided only the largest FFELP lenders will survive.

* While the Democrat bill was well-intentioned, its focus on interest rate reduction does not expand college access for new students which the McKeon alternative does. That is why I urge my colleagues to vote in favor of it, because it truly expands college access for young Americans.

* I encourage Congress to help foster an environment that will build a student loan marketplace and not play politics with college educations.

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