 |
 |
| July 8, 2008 |
|
|
|||||||||
Dear Friends: I wanted to provide you with an update on important education legislation and policy issues I have worked on recently. Preventing Student Loan Discrimination Act I believe strongly in providing students with the resources and tools to help ensure access to higher education. For many students, the dreams of completing a college education are only made possible by taking out a student loan. Unfortunately, in recent months, increasing numbers of lenders in the Federal Family Education Loan Program have been ending their participation with specific types of school – particularly two-year colleges and small four-year colleges. Discrimination against particular students and schools in the federal loan program can have detrimental effects on access to postsecondary education across our nation, particularly among low-income students. Like many students, college presidents, and student aid officials, I am concerned about any trend that limits access to federal student loans. To help address these concerns, I introduced S. 3141, the Preventing Student Loan Discrimination Act. This legislation aims to end the growing practice of denying students at certain community, technical and four-year colleges access to federally guaranteed students loans. Senators Kennedy, Dodd, Clinton, Wyden, and Levin are cosponsors of this legislation. 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. ......................................... Good News for Students - Lower Student Loan Interest Rates As you may know, on July 1, 2008, the Department of Education will lower the Stafford loan rate from 6.8 percent to 6 percent. This means that starting this month, students taking out loans for college through the Stafford loan program can receive significant savings on their loan payments over the life of the loan. These important changes were put in place by the College Cost Reduction and Access Act which passed into law in September 2007. As a member of the Senate Health, Education, Labor, and Pension Committee, I was proud to help draft and pass this legislation that not only lowered interest rates for students, but also expanded Pell Grants, put a cap on monthly loan payments, and expanded loan forgiveness for students who pursue public service jobs. Federal Student Aid Brochures and Fact Sheets: Students can find more information from the Department of Education about student aid information here: http://studentaid.ed.gov/PORTALSWebApp/students/english/publications.jsp http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp http://ombudsman.ed.gov/hottopics.html ......................................... Labor, Health and Human Services, and Education Appropriations Bill As a member of the Senate Labor, Health and Human Services, and Education Appropriations Subcommittee, I was proud to help pass out of Committee, on June 26, 2008, an appropriation bill that provides important increases for education programs in Washington state and across the country. Washington state projects: King County: http://murray.senate.gov/news.cfm?id=299868 Key education program increases:
......................................... A New GI Bill for a New Generation of Heroes A few weeks ago, I joined with many of my colleagues to pass a landmark new GI Bill to improve education benefits for troops and veterans who have served this country since September 11, 2001. The bill was signed into law by the President last week. Passing the GI bill is a huge victory for our veterans and a good step towards fulfilling our nation’s promise to honoring their sacrifice.
|
|||||||||