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News
from Rep. Stephanie Herseth Sandlin
For Immediate Release
Contact: Chip Weiskotten, 202-226-8553
Russ Levsen, 202-226-4449
HERSETH
SANLDIN VOTES FOR LARGEST INVESTMENT IN HIGHER EDUCATION SINCE G.I.
BILL
Historic
Student Aid Package Will Help More Families Afford College
September
7, 2007, Washington, D.C. – U.S. Rep. Stephanie Herseth Sandlin
voted today in support of H.R. 2786, the College Cost Reduction and
Access Act conference report. The bill, which had previously passed
both the U.S. House and Senate, will now go to the President for his
signature.
At a time when college
costs have grown nearly 40 percent over the last five years, this legislation
will bring higher education within reach for more families in South
Dakota. It represents the single largest investment in college financial
assistance since the 1944 G.I. Bill.
Rep. Herseth Sandlin
said, “Some families in South Dakota simply can’t afford to send their
children on to higher education, and those who can, pile up more debt
than ever before. I have always viewed an investment in higher education
as an investment in our future, and a fundamental form of economic development.
This bill will open the doors to our colleges and universities and make
affordable college a reality for more South Dakotans.”
The bill includes
a number of provisions to make higher education more accessible and
affordable, including a key measure for tribal colleges. Provisions
of the College Cost Reduction and Access Act include:
- Cutting interest
rates in half on subsidized student loans over the next four years.
- Making student
loan payments more manageable for borrowers by guaranteeing that borrowers
will not have to pay more than 15 percent of the discretionary income
in loan repayments, and allowing borrowers in economic hardship to
have their loans forgiven after 25 years.
- Increasing the
maximum Pell Grant scholarship by $490 next year and at least $1,090
over the next five years, ultimately reaching a maximum scholarship
of at least $5,400 by 2012.
- Expanding eligibility
for Pell Grants through needs analysis to include and serve more students
with financial need.
- Providing upfront
tuition assistance to qualified undergraduate students who commit
to teaching in public schools in high-poverty communities or high-need
subject areas.
- Providing public
servants loan forgiveness after 10 years of public service and loan
repayment for military service members, first responders, law enforcement
officers, firefighters, nurses, public defenders, prosecutors, early
childhood educators, librarians and others.
- Making a landmark
new investment of $510 million over five years in tribal colleges
and other minority-serving institutions to ensure than students will
not only enter college, but remain and graduate.
- Establishing
a partnership among federal, state and local government entities and
philanthropic organizations through matching challenge grants aimed
at increasing the number of first generation and low-income college
students.
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Congresswoman
Stephanie Herseth Sandlin serves South Dakota in the U.S. House of Representatives.
She is a member of the Blue Dog Coalition, a group of moderate Democrats
committed to fiscal discipline and strong national security, and is
co-chair of the Rural Working Group, which is dedicated to raising the
profile of issues important to rural America. She also serves on three
committees vital to South Dakota’s interests: Agriculture, Veterans’
Affairs and Natural Resources. In the 110th Congress, Rep. Herseth Sandlin
was one of only 15 members appointed to serve on the Select Committee
on Energy Independence and Global Warming.
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