[Congressional Record Volume 154, Number 64 (Tuesday, April 22, 2008)]
[Extensions of Remarks]
[Pages E680-E681]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




     ENSURING CONTINUED ACCESS TO FEDERAL STUDENT LOANS ACT OF 2008

                                 ______
                                 

                               speech of

                         HON. JOHN CONYERS, JR.

                              of michigan

                    in the house of representatives

                        Thursday, April 17, 2008

       The House in Committee of the Whole House on the State of 
     the Union had under consideration of the bill (H.R. 5715) to 
     ensure continued availability of access to the Federal 
     student loan program for students and families:

  Mr. CONYERS. Madam Chairman, today I rise to support H.R. 5715, the 
Ensuring Continued Access to Federal Student Loans Act of 2008. As 
current turmoil in the U.S. financial markets make obtaining and 
affording student loans more and more difficult, today we take an 
affirmative step to relieve that pressure on students and families by 
providing greater access to Federal loans. This legislation: reduces 
borrowers' reliance on costlier private college loans and encourage 
responsible borrowing; gives parent borrowers more time to begin paying 
off their Federal PLUS college loans; helps struggling homeowners pay 
for college; provides the U.S. Secretary of Education additional tools 
to safeguard access to

[[Page E681]]

student loans; and encourages Federal financial institutions to 
exercise their existing authorities to ensure borrowers have access to 
Federal loan funds in the upcoming academic year.
  Here in Congress, we must ensure that access to higher education is 
as unfettered as possible. As our economy goes more and more global we 
have to assure that our future generation will be able to effectively 
compete on the world stage.
  I strongly support this bi-partisan legislation that makes access to 
college more affordable thereby giving greater opportunities to many 
more to pursue the American dream. The Ensuring Continued Access to 
Federal Students Loans Act will achieve its goal at no additional cost 
to the government and with so much money being spent on building 
infrastructure in Iraq by the Executive branch it is encouraging to see 
the Congress show fiscal restraint and responsibility.
  I would like to commend Chairman Miller and Ranking Member McKeon for 
their work and leadership in bringing this bill to the floor so 
families can receive relief before this coming August.

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