Dear Friend:

I have good news for students and families working hard to afford college. This week the President signed into law the Ensuring Continued Access to Student Loans Act which I recently worked to pass in the Senate.  This bill includes several measures that expand access to student loans at a time when many American families are struggling to afford college tuition or find student loans.  As a member of the Senate Health, Education, Labor and Pensions (HELP) Committee, I was proud to help craft and pass this legislation.  

I believe that by providing much needed safeguards and stability for student loans, we can make sure that a student’s education is not disrupted just because the credit market is disrupted. As economic turmoil continues, this bill aims to stabilize the student loan market and improve access to aid so our students won't have to sacrifice their chance at higher education.  College degrees are more important than ever for the success of our students and our nation in today’s economy.  We can't let our declining economy mean declining college enrollment.

This critical bill improves loan access for parents and students by:

• Reducing the need for students to take out expensive private loans by raising certain federal loan limits,

• Providing better options for parents who borrow for their children’s college education,

• Improving parent access to PLUS loans during the mortgage and credit crisis,

• Keeping federal student loans stable and available for students, and

• Providing additional grant aid to students through the existing Academic Competitiveness Grants program.

Bill Details

For students and parents:  If you have specific additional questions about how this bill can help you, I encourage you to contact my office or talk to the financial aid office at your school.