Pelosi Remarks on Sending to the President Landmark Legislation That Reduces College Costs for Millions of Americans

'Good afternoon. Today is indeed a cause for celebration. Today I will be signing this important legislation to make college more affordable to all American students.

'That's why I'm so pleased that we're joined by students and former students. They are our very best and brightest.

'Today, with the help of two of our nation's most talented and experienced legislators - Chairman Ted Kennedy and Chairman George Miller - we are sending to the President landmark legislation that reduces college costs for millions of young Americans.

'The College Cost Reduction and Access Act makes the largest investment in student financial aid since passage of the GI Bill in 1944. Just as the GI Bill helped the Greatest Generation achieve the American Dream, the legislation I am pleased to sign today will spur our economy and educate the next great generation of American leaders.

'By cutting student loan interest in half and increasing the maximum Pell Grant to $5,400, the bill will break down the financial barriers that prevent too many students from pursuing higher education. And this legislation, I'm pleased to say, is fully paid for.

'On behalf of the talented students who joined us today, and for millions more like them, we urge President Bush to support the dreams of middle-class American families by signing the College Cost Reduction and Access Act into law.

'And now I am pleased to enroll the bill and sign it as Speaker of the House of Representatives. I can think of no more important piece of legislation than that which supports our students and strengthens our democracy.'