[Congressional Record (Bound Edition), Volume 153 (2007), Part 13]
[House]
[Page 18476]
[From the U.S. Government Publishing Office, www.gpo.gov]




               H.R. 2669, THE COLLEGE COST REDUCTION ACT

  (Ms. LORETTA SANCHEZ of California asked and was given permission to 
address the House for 1 minute.)
  Ms. LORETTA SANCHEZ of California. Mr. Speaker, I rise today in 
support of H.R. 2669, the College Cost Reduction Act of 2007. This 
intelligent bill increases Federal scholarship amounts and loan limits 
to provide students with additional assistance in paying for college, 
and to help them rely less on costlier private loans.
  In fact, when I went to school, college, 25 years ago, college 
tuition at my university was $8,000 a year, and my Pell Grant was 
$2,700 a year. Today, that very school costs $38,000 a year, and the 
Pell Grant is $4,100 a year. We need to do something about this 
situation.
  As part of this legislation, I am pleased to see that the Congress is 
moving to enact $5,000 of Federal student loan forgiveness for students 
who are using the education they receive to serve their community and 
country in areas of national need.
  Loan forgiveness provides a powerful message to a student: Your 
Government will help you if you choose to help your Nation.
  The College Cost Reduction Act is an important step towards investing 
in American college students and our future workforce, and I look 
forward to working with my colleagues to pass this today.

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