Landmark Education Legislation, Co-Sponsored By Representative Courtney, Passes House Of Representatives

Press Release

Today, H.R. 3221, the Student Aid and Fiscal Responsibility Act of 2009, passed the U.S. House of Representatives with Representative Joe Courtney's strong support. Courtney was an original cosponsor of the landmark legislation.

Representative Courtney, the only member of the Connecticut Congressional Delegation to serve on the House Education and Labor Committee, has been a longtime advocate for education issues and worked tirelessly within the Education and Labor Committee to help create this bipartisan legislation.

Congressman Courtney joined Education Secretary Arne Duncan for a press conference highlighting this legislation. L-R: Rep. Joe Courtney, (D-CT); Rep. Tom Petri (R-WI); Rep. Tim Bishop (D-NY); Education Secretary Arne Duncan; House Education Chairman George Miller, (D-CA); and Rep. Ruben Hinojosa, D-TX).

Representative Courtney stated, "The Student Aid and Fiscal Responsibility Act of 2009 will make an historic and a fiscally responsible investment in higher education accessibility for students and their families. Providing affordable loans to students and saving taxpayers billions of hard-earned dollars is smart and will make our nation's students more competitive in the global economy. Connecticut has a long standing tradition of providing a world class education at all levels, and I remain committed to doing all that I can to continue that tradition as a member of the House Education Committee."

In Connecticut's Second Congressional District alone there are nearly 11,000 students who will be eligible for a Pell Grant award in the 2010-2011 academic years. The legislation will invest approximately $46 million over the next ten years in Connecticut's Second Congressional District.

The bill also increases support for community colleges like Asnuntuck Community College, Three Rivers Community College, and Quinebaug Valley Community College. The investments in community colleges will allow the institutions to create new partnerships with local employers who will be able to rely on local, highly skilled talent as a hiring resource in the future. Investing in community colleges is an essential component towards creating a more competitive and innovate workforce. There are approximately 55,000 students enrolled in Connecticut's community colleges.

Over the next ten years, HR 3221 will invest more than $277.2 million in Connecticut and $45.8 million in Connecticut's Second Congressional District to increase the maximum annual Pell Grant scholarship to $5,550 in 2010 and to $6,900 by 2019. According to the Dept. of Education, 10,839 students in Representative Joe Courtney's district will be eligible for Pell Grants in the 2010-2011 academic year. Additionally, Connecticut will receive nearly $20.4 million to help finance projects to community college facilities. Connecticut will receive more than $ 28.6 million over the next two years for school renovation.

In 2008, students in Connecticut borrowed 73,260 subsidized student loans. The rates were to be reduced to 3.4% as a result of the College Cost Reduction Act. Those rates are scheduled to jump up to 6.8% in 2012, however this legislation will allow those rates to be variable starting in 2012.

Connecticut will also be able to compete for grants made through the bill for early childhood education and community college programs.

The Student Aid and Fiscal Responsibility Act offers relief to students and taxpayers alike. This bill will end inefficient and wasteful practices of the past, including ending government subsidies to private lenders as a guaranty for private loans offered to students. HR 3221 proposes to originate all federal student loans from the U.S. Department of Education as a way to save taxpayers' dollars, but also to insure that even in an economic downturn, students will have reliable access to affordable loans. H.R. 3221 also follows House established "Pay-Go" rules and will not add to the federal deficit, but instead saves $87 billion over ten years. Ultimately, this reform will send $10 billion back to the U.S. Treasury through cuts and savings to pay down the deficit. Click here to learn more about HR 3221.

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