House Passes Polis Provisions In Historic College Aid Act

Press Release

House Passes Polis Provisions In Historic College Aid Act

Congressman Jared Polis (D-CO) today urged his colleagues to support H.R 3221, the Student Aid and Fiscal Responsibility Act (SAFRA), which makes the single largest investment in higher education in history. The bill, which passed the House today by a vote of 253 to 171, includes three amendments successfully added by Polis, a former Colorado State Board of Education Chairman and current member of the House Education and Labor Committee.

"Education is the key to American progress and prosperity," said Polis. "Yet every day, I hear from students who can't afford college tuition or are over-burdened by student loan debt. This landmark legislation will help ensure that students, who are ready and want to go to college, do not give up because of cost barriers."

By transforming the way the federal student loan system operates, SAFRA will generate $87 billion in savings over the next ten years that will be used to increase the maximum Pell Grant from $5,350 in 2009 to $5,550 in 2010 and $6,900 in 2019; invest in community colleges; simplify the financial aid application process; create a College Access and Completion Fund; and expand low-cost Perkins loans -- at no cost to taxpayers.

Under this legislation, students from Colorado's Second Congressional District stand to see a dramatic rise in their Pell grant awards, with total award amounts increasing from $21 million to over $53 million over the next ten years. Financial aid applications in the district are anticipated to increase from 30,000 to a projected 45,000 in 2012-13. Over the next five years, Colorado colleges would receive at least $10.5 million from the College Access Challenge Grant and Colorado school districts would receive over $42 million for energy efficiency, modernization, renovation, and repair projects.

Polis' first amendment increases community colleges' labor market responsiveness and strengthens their competitiveness by creating training programs, in consultation with employers, that address states' workforce needs and reflect labor market trends.

Polis' second amendment makes improving postsecondary access and success in Science, Technology, Engineering, and Mathematics (STEM) for women and underrepresented students a priority under the new community college funding.

Polis' third amendment promotes early childhood interagency collaboration within states, and requires the federal government to identify and address barriers to improving the quality of early learning programs serving low-income children.

"This is a major step toward building a 21st century early education system that will prepare the next generation of students for a lifetime of success," said Polis. "In a global knowledge-based economy, our nation cannot afford to waste talent and squander human capital. SAFRA tackles this problem head-on by making the single largest investment in higher education in history without costing taxpayers a dime."

Source