(KANSAS CITY, MO) – Congressman Dennis Moore (Third District -- Kansas) and Congressman Emanuel Cleaver, II (Fifth District – Missouri) will host a news conference with University of Missouri-Kansas City students at 1:30 p.m. on Tuesday, November 29, 2005, to decry the largest proposed cut in student financial aid in the program’s history.

“Not all spending cuts are equal,” said Moore. “These proposed cuts to student financial aid are irresponsible and will make it harder for students to afford to attend college. While I strongly believe in the importance of fiscal responsibility, Congress must recognize the health of our economy rests on having a well-educated workforce.”

At a time when college tuition is skyrocketing, the recently passed spending reconciliation bill slashes student loans by more than $14 billion – increasing the costs for the 83,276 student borrowers in Kansas and 160,128 student borrowers in Missouri. This includes raising student loan interest rate caps and raising interest rates and fees on student borrowers who consolidate their loans. According to estimates, these changes could cost students up to $5,800 more in interest and fees over the life of their loans.

“The onerous cuts to the budget are placed directly on the backs of students to fund a tax cut for the wealthiest Americans. Affordable and accessible higher education is critical to preparing our workforce for a global economy. I am strongly committed to restoring the student aid funds,” said Cleaver.