[Congressional Record Volume 153, Number 73 (Friday, May 4, 2007)]
[Extensions of Remarks]
[Page E958]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         COLLEGE AFFORDABILITY

                                 ______
                                 

                           HON. STEVE ISRAEL

                              of new york

                    in the house of representatives

                         Thursday, May 3, 2007

  Mr. ISRAEL. Madam Speaker, I rise today to talk with my colleagues 
about a visit I recently made to Deer Park High School in my 
Congressional District, where the students invited me to participate in 
a hearing on college affordability.
  The Seniors at Deer Park High School and I discussed the skyrocketing 
costs associated with getting a college education and the ways in which 
many middle class families on Long Island are put at a critical 
disadvantage--being too rich to qualify for student aid but too poor to 
pay for college. They shared their personal thoughts and concerns about 
how they'll pay for college. And they advised me on legislation I'm 
drafting to make college more affordable.
  Higher education is so important--but so many parents and students 
simply cannot afford to pay for college. And many parents and students 
who find a way to struggle through end up thousands of dollars in debt. 
Total expenses for public universities (including tuition and fees, 
room and board, books and supplies, transportation and other expenses) 
now average $12,796 per year. Total expenses for private universities 
now average $30,367 per year. And New York has the highest number of 
subsidized student borrowers in the country.
  How can the United States compete in the global economy if our young 
people cannot afford a college education? We've made a start. In the 
first 100 hours of the 110th Congress, we passed the College Student 
Relief Act of 2007. This legislation will make college more affordable 
and accessible by cutting the interest rate on subsidized student loans 
for undergraduates in half over the next five years--from the current 
6.8% to 3.4%.
  In closing, I'd like to commend the students at Deer Park High School 
for all of the hard work and preparation they put into our college 
affordability hearing and I want to thank them for all of their 
wonderful suggestions. The time I spent at Deer Park High School truly 
helped reinforce my commitment to making college more affordable for 
Long Island families.

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