Pelosi Statement on Introduction of Student Aid and Fiscal Responsibility Act

Pelosi Statement on Introduction of Student Aid and Fiscal Responsibility Act

Wednesday, July 15, 2009

Contact: Brendan Daly/Nadeam Elshami/Drew Hammill, 202-226-7616

Washington, D.C. - Speaker Nancy Pelosi issued the following statement today on legislation introduced by House Education and Labor Committee Chairman George Miller that will make college dramatically more affordable by investing billions of dollars in additional student aid, at no new cost to taxpayers. The bill will generate almost $100 billion in savings over the next 10 years that will be used to increase Pell Grant scholarships, keep interest rates on federal loans affordable, and safeguard federal student loan access for families.

â€Å"The Student Aid and Fiscal Responsibility Act of 2009 makes dramatic investments in ensuring that higher education is more affordable, and it does so at no additional expense to the taxpayers - in fact, it saves money. This legislation transforms the financial aid system to put students first, and gives students and their families more reliable and effective loan options.

â€Å"Strengthening education is essential to our efforts in building a stronger economic foundation for the future. To educate the next generation of highly-skilled workers, we must invest in our nation's future now. I salute the efforts of Chairman George Miller and look forward to continuing to work with him to make college more affordable.”