[Weekly Compilation of Presidential Documents Volume 44, Number 17 (Monday, May 5, 2008)]
[Page 637]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Congressional Passage of Student Loans 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.