[Congressional Record Volume 141, Number 147 (Wednesday, September 20, 1995)]
[Extensions of Remarks]
[Page E1815]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                       ACCESS TO HIGHER EDUCATION

                                 ______


                            HON. RON PACKARD

                             of california

                    in the house of representatives

                     Wednesday, September 20, 1995
  Mr. PACKARD. Mr. Speaker, there appears to be a great deal of 
misinformation circulating regarding Republican plans to cut aid for 
higher education. Scare tactics, as we know, are usually the last 
resort of a desperate cause without a plan of their own.
  The Republican-led 104th Congress has worked diligently to reform, 
streamline, and cut costs in Government. But let us get the facts 
straight. Our balanced budget proposal does not cut a single student 
loan. In fact, there will be more loans available next year than ever 
in the history of the program. In-school interest subsidies remain. 
Loan fees are not increased and Pell grants are funded at the highest 
level in history. Student aid is not cut.
  The future looks extremely bright for students, if we enact a 
balanced budget. With a balanced budget, interest rates for money 
borrowed will decrease by at least 2 percent. That means a student who 
originally borrows $11,000 for college at 8 percent could see the cost 
of that loan decrease by more than $2,000. If we don't balance the 
budget, student loan programs will go bankrupt, not to mention numerous 
other programs.
  I urge my colleagues on the other side of the aisle and the Clinton 
administration to stop the scare tactics and work with us to craft a 
plan that will save student loans and the Federal Government from 
bankruptcy.


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