[Congressional Record Volume 144, Number 51 (Thursday, April 30, 1998)]
[Extensions of Remarks]
[Page E728]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  HIGHER EDUCATION AMENDMENTS OF 1998

                                 ______
                                 

                               speech of

                          HON. ROSA L. DeLAURO

                             of connecticut

                    in the house of representatives

                       Wednesday, April 29, 1998

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 6) to extend 
     the authorization of programs under the Higher Education Act 
     of 1965, and for other purposes:

  Ms. DeLAURO. Mr. Chairman, I rise today in support of the 
reauthorization of the Higher Education Act. A college education has 
become a virtual necessity for success, but the rising cost of tuition 
has put that diploma further and further out of reach for many 
students.
  I am particularly glad that this bill makes more funds available for 
financial aid programs, and especially Pell Grants, which help open the 
doors of college to America's neediest students. Increasing the maximum 
Pell Grant from $3,000 to $4,500 may not sound like a lot, but to many 
students it makes all the difference in the world.
  Now that we have authorized more funds for Pell Grants, I encourage 
my colleagues to work together to support a budget that makes that 
money available to students who are depending on this financial aid to 
pay for their college education. It does no good to authorize increases 
if we do not make the money available to make those increases real.
  I am also pleased that we have worked out a compromise that will 
lower the interest rates on student loans. But I am concerned about the 
billion dollar pay off we are giving to lending institutions. This 
money will actually make student loans more profitable for banks than 
the typical loan portfolio.
  We should put that funding toward financial aid programs and helping 
students--not bankers. But overall, I believe this bill does the right 
thing in making college accessible to more Americans, and I urge my 
colleagues to support it.

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