    [Public Papers of the Presidents of the United States: George W. Bush (2008, Book I)]
    [May 1, 2008]
    [Page 619]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Congressional Passage of Student Loan Access Legislation
    May 1, 2008

        Earlier today Congress passed the ``Ensuring Continued Access to
    Student Loans Act'' with overwhelming bipartisan support. I am pleased
    by Congress's swift action to address this vital issue. In particular, I
    want to thank the committee chairs and ranking members for their hard
    work. Millions of students around the country could potentially benefit
    from this important piece of legislation.
        In order to ensure that Americans can continue to compete in the
    global marketplace, the Federal Government has an obligation to
    encourage and support people pursuing higher education. By granting the
    Department of Education greater authority to purchase Federal student
    loans, today's action should ease the anxiety many students may feel
    about their ability to finance their education this fall. Thanks to
    quick and decisive action by my administration and the Congress, Federal
    student aid will be available in a more timely fashion.

    Note: The statement referred to H.R. 5715.