[Congressional Record Volume 155, Number 148 (Wednesday, October 14, 2009)]
[Senate]
[Page S10431]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




     40TH ANNIVERSARY OF THE VERMONT STUDENT ASSISTANCE CORPORATION

  Mr. LEAHY. Mr. President, I wish to take this opportunity to 
congratulate the Vermont Student Assistance Corporation, VSAC, for 
three important milestones it has reached this year. This year marks 
the 40th anniversary of the VSAC Talent Search Program, the 10th 
anniversary of the VSAC Gear UP Program, and the 10th anniversary of 
the Vermont Higher Education Investment Program.
  Although small in size, Vermont has a long history of establishing 
national models for making higher education accessible to disadvantaged 
students. The University of Vermont provided Senator Justin Morrill the 
inspiration for the first and second Morrill Act. The student loan 
programs which have made college possible for millions of students each 
year bear the name of my former colleague and dear friend, Senator Bob 
Stafford.
  The Vermont Student Assistance Corporation has continued this 
tradition through innovative programs to encourage first-generation and 
low-income students to pursue their career and education goals. Each 
year more than 47,000 students and parents participate in one or more 
of their career, education and financial aid programs. In addition, 
VSAC has been at the forefront of efforts to reach young people with 
programs that link career ambitions with educational requirements and 
opportunities. This past year, VSAC's Start Where You Are program won a 
prestigious WebAward for Education Standard of Excellence from the Web 
Marketing Association. In a more traditional vein, VSAC staff was 
recognized this year with the David Swedlow Memorial College Access 
Staff Award of Excellence from the National College Access Network.
  Several States have established not-for-profit State agencies to 
administer financial aid and to provide their residents and students 
attending their schools with quality counseling services and low-cost 
loans. Vermont pioneered this movement by creating the Vermont Student 
Assistance Corporation more than 40 years ago. VSAC has worked hard to 
establish and maintain strong and longstanding working relationships 
with Vermont's higher education institutions as well as K-12 schools to 
provide outreach programs critical to the economic vitality of Vermont.
  The U.S. Department of Education has proposed that all future student 
loans be made through direct lending from the Federal Government to 
students. The Direct Loan program is projected to save students 
millions of dollars in fees and interest payments. Additional savings 
would be distributed to States for school construction and grants for 
K-12 education. Unfortunately this proposal does not include a role for 
not-for-profit State agencies such as VSAC. I believe that is a 
significant oversight. Vermonters have come to rely on the high 
quality, comprehensive programs that VSAC offers. A one-size-fits-all 
Federal direct loan program does not acknowledge all of the hard work 
and experience of nonprofits such as VSAC and their tremendous staff. 
As this proposal makes its way through Congress, Senator Sanders, 
Congressman Welch, and I will be working for changes to ensure a role 
for nonprofit State financial aid agencies such as VSAC.
  I congratulate VSAC on their landmark 40th anniversary, and I hope 
there will be many more to come.

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