Student Loan Reform
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| Hersteller: | Forgotten Books (Author, Unknown) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from Student Loan Reform: Hearing of the Committee on Labor and Human Resources United States Senate One Hundred Third Congress, First Session, on S. 920; To Amend the Higher Education Act of 1965 to Simplify the Delivery of Student Loans to Borrowers and Eliminate Borrower Confus The committee met, pursuant to notice, at 10:00 a.m., in room SD - 130, Dirksen Senate Office Building, Senator Edward M.Kennedy (chairman of the committee) presiding. Present: Senators Kennedy, Pell, Metzenbaum, Dodd, Simon, Wellstone, Kassebaum, Jeffords, Coats, Gregg, Hatch, and Durenberger. Opening Statement of Senator Kennedy The Chairman. Well come to order. In today´s hearing, we will consider a long overdue improvement in college aid: moving from the current system of guaranteed student loans to direct loans. We made many improvements to the current loan program in last years Higher Education Act. Now, under the leadership of President Clinton, we have the opportunity to take even bolder steps to reform the program and make it serve students more effectively. Under the current system, college students borrow for their education by obtaining bank loans from the private sector. These loans are guaranteed, and heavily subsidized by, the Federal Government. Under a system of direct loans, students will borrow directly from the Federal Government by applying through their colleges. Direct lending is an all-around winner. It is a win for students and their families, a win for colleges, a win for taxpayers, and a win for the public interest against special interests. Direct lending is the only education proposal currently under consideration by Congress that allows us to achieve major budget savings and make the program better for students. President Clinton has made it clear that the administration strongly supports the move to direct lending, and many of us in Congress support it as well. Congress is already solidly on record in support of this principle. In the Higher Education Act last year, we took the first major step toward this reform by approving a large pilot program, with the goal of moving as rapidly as possible to a system of direct loans, have supported this idea for many years. Working with President John Silber of Boston University, I introduced legislation in 1978 to combine direct Federal lending and income-contingent repayment. We had impressive bipartisan support for that proposal. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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