House Debates the College Cost Reduction Act

July 11, 2007

The House is currently debating the rule for the College Cost Reduction Act of 2007, H.R. 2669, with debate on the bill beginning immediately after. The bill will provide the single largest increase in college aid since the GI bill in 1944. The legislation invests about $18 billion dollars over the next five years in reducing college costs, helping millions of students and families. It comes at no new cost to taxpayers, and is funded by cutting excess subsidies paid by the federal government to lenders in the student loan industry.

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Rep. Jim McGovern (MA-03) of the Rules Committee spoke about the bill during debate on the rule:

Rep. McGovern:

"I love when I hear my colleague from Washington say we all share the goal of helping struggling students be able to afford a college education. Well, students don't need our sympathy. They don't want us to feel their pain. They want us to do something. And for years they haven't done anything. Well today we are going to do something. Times have changed, and today we will pass a bill that will make higher education a reality for countless students and contribute greatly to a brighter economic future."

Rep. Bobby Scott (VA-03) speaks in favor the bill and its impact on historically black colleges:

Rep. Scott:

"This bill makes significant investments in historically black colleges and universities and other minority-serving institutions. A significant portion of the students at these colleges and universities are first generation students. We know that they often come from low-income families, so support of these institutions is critical. We know that these colleges offer an opportunity that otherwise would not be there. This bill also makes improvements in upward bound. It provides additional funds for upward bound because many qualified upward bound programs were not funded this year because the program just ran out of money."