The purpose of this press conference is to let working families throughout Central Texas know that political decisions being made in Washington, D.C. could make it more difficult for high-achieving students to be able to afford a college education, thus dashing the American dream for many and making our nation less competitive in the world marketplace. The common bond of all of us here today is our belief that a quality, affordable college education is vital for the future of our youth and our nation. I believe that is a value shared by the overwhelming majority of Central Texas families. That’s why I think most Central Texans would be surprised and disappointed to hear that recent actions in Washington, D.C. could make a college education less affordable for thousands of hard-working middle and low-income students in our area. There is one fundamental question I want to raise today. Does anyone believe that making a college education less affordable for middle and low-income students is good for America’s future? I doubt many people would suggest that America wins when higher education is made less affordable for qualified students, yet behind closed doors in Washington, D.C., decisions are being made to enact large cuts in college student loans and grants. If American students and working families understand that politicians in Washington are putting college student financial aid on the chopping block, I believe it will ignite a grassroots firestorm that could reverse recent cuts and stop new proposed cuts. Let me be specific with several facts. First, the federal government is the largest single source of college student financial aid, helping over 10 million students who are working hard to make a better life for themselves and their families. Second, even after being adjusted for inflation, the average cost of tuition and fees at four-year colleges and universities has risen by 40% in just five years. Consequently, many families facing high gasoline and utility bills are finding it increasingly difficult to pay for college costs. Third, last year the United States suffered the largest trade deficit in our nation’s history, over $700 billion, which is clear evidence of the increasing foreign competition we are facing for jobs and business. Common sense tells us that to compete in the world market place, we need a better educated workforce, not a less educated workforce. Yet, cutting student aid just as many hard-working families are facing increasing costs for tuition, gasoline and utilities will cause untold numbers of students to give up their dreams of a college education. Cutting college financial aid is wrong for our children and youth, it is wrong for hard-working families, and it is wrong for America’s future. I intend to push Congress to reverse the recently passed $11.9 billion cut in college student financial aid programs, which, according to student advocacy groups, will put a $6500 student tax on the average college student loans. I will also urge my colleagues to reject the Administration’s 2007 budget proposals to: eliminate vocational education programs, to cut the Perkins College Loan program by $664 million, thus denying low cost, 5% loans to 460,000 middle and low income students, to freeze Pell Grants for the fourth year in a row and to freeze work-study and supplemental college grants that help 2 million students. Let me also note that under the proposed 2007 budget, students who become teachers or law enforcement officers or join the military will be hurt by the repeal of present loan forgiveness programs for students who enter these vital areas of public service. I don’t see how having fewer, well-educated teachers, law enforcement officers and military personnel will make our nation more competitive or safer. I agree with President Bush’s recent statement, “To keep America the world’s most competitive and innovative nation, we must continue to lead the world in human talent and creativity.” In the months ahead, I will urge my congressional colleagues, Republicans and Democrats alike, to recognize that investing in a college education for hard-working, qualified students is the best way to ensure a brighter future for our children and our nation.