[Congressional Record (Bound Edition), Volume 153 (2007), Part 18]
[House]
[Page 24518]
[From the U.S. Government Publishing Office, www.gpo.gov]




                 COLLEGE COST REDUCTION AND ACCESS ACT

  (Mr. ARCURI asked and was given permission to address the House for 1 
minute.)
  Mr. ARCURI. Mr. Speaker, this week the Democratic Congress makes 
college more affordable for American students and families by sending 
the College Cost Reduction and Access Act to the President. After 
initially threatening a veto, President Bush now says he will sign the 
bill into law. That's good news for millions of students and their 
families who are trying to figure out how they're going to afford a 
college education.
  Under President Bush, college tuition has increased 40 percent over 
inflation, putting college out of reach for many. While college costs 
have increased over the last 7 years, Pell Grants and other Federal aid 
have remained flat, which has created an imbalance in the grant-to-loan 
ratio that students face. For some who are fortunate enough to attend 
college, they are leaving with more than $20,000 in loan debt.
  Our legislation begins to remedy that imbalance by providing the 
largest investment in college funding since passage of the GI Bill in 
1944. Under our legislation, we increase Pell Grant scholarships by 
more than $1,000, and we cut student interest rates in half.
  Mr. Speaker, Democrats promise to make college more affordable this 
week, and we are living up to that promise.

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