[Congressional Record (Bound Edition), Volume 153 (2007), Part 18]
[House]
[Page 24685]
[From the U.S. Government Publishing Office, www.gpo.gov]




DEMOCRATIC CONGRESS SENDS COLLEGE COST REDUCTION ACT TO THE PRESIDENT'S 
                                  DESK

  (Mr. SIRES asked and was given permission to address the House for 1 
minute.)
  Mr. SIRES. Mr. Speaker, elections do make a difference. Last 
November, Democrats promised that if the American people entrusted us 
with the control of Congress, one of our top six priorities would be 
putting college in reach for more Americans.
  This week, the Democratic Congress delivers on that promise, sending 
the College Cost Reduction and Access Act to the President's desk for 
his signature. The President says he will sign it, which is good news 
for millions of students and families who are trying to fulfill the 
American Dream.
  The landmark legislation is the largest college aid expansion since 
the GI Bill in 1944. Under the legislation, the maximum Pell Grant 
scholarship will increase by more than $1,000 over the next 5 years. 
More than 5.5 million low- and moderate-income students will receive an 
immediate boost of almost $500 in their Pell Grant scholarships. The 
legislation also cuts interest rates in half on student loans, which 
will save the average student $4,400 over the life of the college loan.
  Mr. Speaker, the Democratic Congress has delivered on another of our 
top priorities as we take America in a new direction.

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