[Congressional Record Volume 155, Number 132 (Thursday, September 17, 2009)]
[Extensions of Remarks]
[Pages E2308-E2309]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           STUDENT AID AND FISCAL RESPONSIBILITY ACT OF 2009

                                 ______
                                 

                               speech of

                          HON. DORIS O. MATSUI

                             of california

                    in the house of representatives

                     Wednesday, September 16, 2009

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 221) to 
     amend the Higher Education Act of 1965, and for other 
     purposes:

  Ms. MATSUI. Madam Chair. I rise today in support of the legislation 
before us today, H.R. 3221.
  A college degree is now deeply intertwined with the promise of the 
American dream, and it is our responsibility to provide equal 
opportunities to America's students. As the skill requirements of jobs 
continue to increase, so too should access to postsecondary education 
for all of our nation's students.
  The Student Aid and Fiscal Responsibility Act directs the government 
to originate all student loans and it also ensures that there is a role 
for private industry, guarantee agencies, and non-profits in providing 
their services. This truly is a public-private partnership.
  Moving all loans to the Direct Lending program will save the federal 
government and taxpayers almost $100 billion over the next 10 years as 
it eliminates tax-payer funded subsidies private lenders have been 
receiving to make student loans. Students in Sacramento will see a 
dramatic increase in their Pell grant awards over the next 10 years 
with total amounts going from $44 million to over $110 million in our 
community alone.
  The savings found through this proposal will help strengthen the Pell 
grant program, keep interest rates on student loans low, improve 
community colleges, and expand early childhood education.
  Given the recent economic downturn, more and more students are 
seeking aid, and additional Pell funds will allow them to achieve their 
goals.
  Elisa Pina is a fourth year student at California State University, 
Sacramento, which is located in my district. She is receiving the Cal 
Grant and the Pell Grant, and is also a participant in the Federal 
Work-Study Program. With the recent state budget cuts to the Cal Grant, 
the Pell Grant is crucial to her ability to stay in school.
  Elisa comes from a low-income family. Without the financial aid 
afforded to her through these programs, she would have never been able 
to afford college.
  Elisa's story, thanks to the federal loan program this Congress has 
supported, is one of millions in communities all across the country. 
The bill before us today will make her dream of going to college a 
reality for millions more.
  Madam Chair, for all of these reasons, I urge my colleagues to 
support the underlying bill.

[[Page E2309]]



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