[Congressional Record Volume 140, Number 124 (Thursday, August 25, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: August 25, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                MONTANA GUARANTEED STUDENT LOAN PROGRAM

  Mr. BAUCUS. Mr. President, it is with great pride that I announce the 
Montana Guaranteed Student Loan Program in Helena, MT, has achieved the 
Nation's lowest cohort default rate for Federal family education 
student loans. The latest figures show Montana's rate for 1992 at 5 
percent compared to the Nation's average rate of 15.1 percent--less 
than a third of the national default rate.
  We have a strong tradition of excellence in education in my State. 
Montanans believe in top-quality education. Montanans believe in hard 
work and service to one another. And we also believe in personal 
responsibility. Montanans pay their debts and live up to their 
commitments. The Montana Guaranteed Student Loan Program combines these 
elements to provide our students the best possible financial 
assistance.
  In 1987, the Montana Board of Regents agreed that by having local 
control over loan services we could better assist our students. In 
1988, the Montana Guaranteed Student Loan Program office opened in 
Helena. Not only has this been a proven asset for students, but schools 
and lenders have benefited as well.
  Another component of this successful endeavor is the Montana Higher 
Education Student Assistance Corporation which services the repayment 
of the loans. Our schools also play a vital role by providing 
individual guidance and counseling for students. The combination of 
these efforts has resulted in the distinction of Montana having our 
Nation's lowest cohort default rate.
  Mr. President, this is indeed an honor for my State. I give my 
highest commendation to Bill Lannan, director of the Montana Guaranteed 
Student Loan Program. And I applaud the dedicated efforts of his staff. 
I also congratulate Montana's students, and their parents who raised 
them right.

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