Press Release |
Media Contact: Marion Read 202.225.3665 |
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ARCURI VOTES FOR MORE STUDENT ASSISTANCEHouse Passes Legislation to Protect Federal Student Loans During Economic Downturn
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April 23, 2008 | |||
Washington, DC -- U.S. Representative Michael A. Arcuri (D-Utica) joined a bipartisan majority in the U.S. House of Representatives last week to pass legislation which would ensure that uncertainty in the U.S. financial markets does not keep students and families from accessing the federal student loans they need to pay for college. “Access to higher education is the key to our future – growing our economy and making sure local graduates have the tools they need to succeed,” Arcuri said. “All too often families are priced out of higher education or students find themselves buried in debt. By making sure critical federal student loans are not jeopardized by uncertain financial markets, we can help local students achieve their dreams.” The Ensuring Continued Access to Student Loans Act of 2008 (H.R. 5715) would provide new protections, in addition to those that already exist under current law, to ensure that families continue to have timely, uninterrupted access to federal college loans in the event that the stress in the credit markets leads a significant number of lenders to substantially reduce their activity in the federally guaranteed student loan program. H.R. 5715 would:
Arcuri also strongly supported the College Cost Reduction and Access Act, the largest federal investment in student aid since the 1944 GI Bill, which was signed into law in September. ### |