“For more than 50 years, the Higher Education
Act has been the federal government’s most important and effective
means for helping low- and middle-income students and families finance a
higher education. Reauthorization of this landmark law is overdue, but
it is vital to undertake this complicated process in a way that does not
undermine access to and the quality of postsecondary education at a
time when the nation needs more of both.
We will examine closely the bill released by
the Republican majority on the House Committee on Education and the
Workforce. We are pleased that the bill includes many of the
recommendations from the report of the bipartisan Task Force on Federal
Regulation of Higher Education. These steps will simplify and streamline
federal mandates to help campuses reduce administrative costs and
better serve students.
However, we are deeply concerned that the
proposal would undermine decades of federal policy aimed at helping
students at the undergraduate and graduate levels afford a high-quality
higher education. Most notably, this measure would immediately lead to
higher interest charges every year for some six million student
borrowers and eliminate 1.5 million financial aid grants. Regrettably,
this is the second time in a month that the House will consider a
proposal to significantly increase the cost of federal student loans.
This week’s action is just one step in what
has been and will continue to be a long and winding process toward
reauthorization of the Higher Education Act. We look forward to working
with the House and the Senate to achieve a final measure that expands
access to educational opportunity, fosters innovation and cutting-edge
research, and grows the next generation workforce this country needs to
compete in a global economy.”