[Congressional Record Volume 141, Number 193 (Wednesday, December 6, 1995)]
[House]
[Page H14029]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       A 50-PERCENT INCREASE IN STUDENT LOAN PROGRAM IS NOT A CUT

  (Mr. SOUDER asked and was given permission to address the House for 1 
minute.)
  Mr. SOUDER. Mr. Speaker, I come to the floor to set the record 
straight concerning the student loan and Pell grant proposals in the 
Balanced Budget Act of 1995.
  Mr. Speaker, contrary to what my colleagues may be hearing from 
sources on the other side of the aisle, Federal student loans are not 
cut. In fact, loan volume will increase by 50 percent over the next 7 
years without imposing additional costs to students or parents. This 
amounts to an increase of $12 billion in spending on Federal student 
loans through the year 2002; from $24 to $36 billion in 7 years.
  Mr. Speaker, not only do Republicans increase spending for the 
guaranteed student loan program by 50 percent, but the maximum award 
for Pell Grants targeted to low-income students will rise to the 
highest level in their history, to $2,440.
  We have targeted the expenditures to those who need it most; not cut 
them. Democrats have barraged the airwaves to convince the public that 
Republicans are cutting Federal financial aid, but a 50-percent 
increase in the guaranteed loan program demonstrates that this is not 
the case.

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