Sen. Salazar Addresses Education Affordability and
Education Reconciliation Bill on Senate Floor
WASHINGTON, D.C.
– With college costs at an all time high and higher education falling
further out of reach for many young Americans, addressing access to
affordable and quality education is a key priority for United States
Senator Ken Salazar. As a previous recipient of federal student aid,
Senator Salazar understands the importance of access to grants and loans
to ensure an affordable education. Studies by the College Board have
shown that a person with a college degree will earn $1 million more
over the course of their lifetime than a person with a high school diploma.
People with graduate degrees earn over $3.5 million more. Under the
current bill, Colorado students would be eligible for an additional
$38 million in need-based grant aid next year, and over $325 million
over the next five years.
Today, in a floor statement,
Senator Salazar addressed the Education Reconciliation Bill, now being
considered in the United States Senate. Below is an excerpt from his
remarks, as prepared for delivery:
“This bill provides
the resources needed for millions of American students to go on to college…A
college education provides Americans with a bridge to a successful,
financially secure future.
“…I am personally
very familiar with the value of our federal student aid programs. I
received Pell grants and Perkins student loans so that I could attend
college. I also received federal loans to attend law school. These programs
provided me the resources I needed to get where I am today, standing
in the United States Senate.
“…The number of
students who benefit from these programs continues to grow. Because
of Pell grants and other federal student aid programs, more and more
students are going to college, getting an education, and living the
American dream. However, I know many young people today, especially
those in low-income households, are prevented from pursuing a college
education because of the growing costs and shrinking resources available
to them. In Colorado, the average cost for attending a public college
has increased by 38% over the last five years – 38%! Yet, at the same
time, the average family income has not kept pace with increasing college
costs. While tuition continues to increase nationwide, the maximum Pell
grant award has remained level funded.
“…I am very pleased
with many components of the proposal currently before the Senate. Under
the legislation, low-income students would receive an increased Pell
grant to help them in covering the costs of college.
“…The bill also
helps meet the needs of our national workforce. It includes a provision
to forgive the federal student loan debt of borrowers who dedicate their
careers to serving our communities by working in public-sector jobs.
Such investments will help attract talented, dedicated young people
who wish to serve their communities.
“…In an effort to
relieve some of the pressure on middle-class students who borrow money
to attend college, this proposal would assist millions of Americans
struggling with student loan debts. Specifically, the bill would place
a cap on monthly loan payments at 15% of the borrower’s income. This
provision would help working Americans who struggle every month to pay
their school loans get out from under mountains of debt.
“…The package before
the Senate will help millions of students climb the economic ladder
and live the American dream. It will strengthen and expand America’s
middle class by providing an economic bridge to success for low-income
students and by relieving pressure on middle-income households. And
it will improve America’s competitiveness in the global economy by helping
to create the next generation of entrepreneurs, skilled workers, and
public servants.
“…Federal student
aid programs gave me the chance I needed to achieve success. I believe
we should provide all Americans with that same opportunity.”
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