[Congressional Record Volume 141, Number 57 (Tuesday, March 28, 1995)]
[House]
[Page H3818]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             STUDENT LOANS

  (Mr. WARD asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. WARD. Mr. Speaker, in their increasing effort to pay for a 
capital gains tax cut for the wealthiest of society and to assure that 
the supporters of the Republican contract for America now have a new 
target for spending cuts--students.
  Under the Republican contract rescissions package, $63 million is 
eliminated for the State Incentive Grant Program, which effectively 
cuts the entire program; $104 million is eliminated for the Pell Grant 
Program and; Federal direct student loans are cut by $47 million. Over 
50 percent of all students currently attending college receive some 
type of financial aid which will be directly affected by these cuts.
  In Kentucky alone last year, there were over 70,000 student loans 
granted totaling over $180 million.
  Of these 70,000 loans, students of the University of Louisville 
received over 7,000 loans totaling over $23 million. Mr. Speaker, these 
figures represent only one State and only one school, the true effects 
of these cuts are more far-reaching and will prohibit millions from 
obtaining an education.
  Mr. Speaker, If we truly value education in our society, we will be 
committed to providing the necessary assistance to enable all Americans 
to obtain a college degree. I hope that we can make this commitment 
together.


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