Conyers on the Curtailing of College Access

Washington, DC - Congressman John Conyers, Jr., Ranking Member of the House Judiciary Committee voiced his opposition toward H.R. 609, the so-called "College Access and Opportunity Act," which reached the House floor today.

"H.R. 609 creates greater problems in providing financial assistance for college students, and will lead to graduates inheriting greater debt," Conyers said.

The legislation fails to make college more affordable for Americans falling within the low- and middle-income brackets - it removes the 6.8 percent interest rate cap on student loans that were supposed to be implemented on July 1, 2006.

H.R. 609 also holds the Pell Grant at $6000 per student allocation until 2013. As a result of inflation, the maximum Pell Grant has already decreased by 50 percent in purchasing power over the last two decades, from 84 percent to 42 percent, leaving students with more to pay at higher interest rates.

This bill also revokes a student's ability to secure a low-fixed interest rate, by prohibiting them from consolidating their loans while in school or during the 6 month grace period, directly following graduation. In addition, it bars married couples from consolidating their student loans with their spouses.

These factors produce more obstacles which could interfere with a student's ability to pursue higher education.

"Students and their families deserve more than what this resolution offers," Conyers stated. "For this reason, I voted for the Democratic alternative, which among other things would reduce interest rate loans for students with the greatest needs from 6.8 percent to 3.4 percent."

The Democratic plan, which was defeated, would have also boosted the maximum Pell Grant in five $100-step intervals over the next five years, provided students a choice between a fixed or variable interest rate and kept the 6.8 percent cap on student loans.

H.R. 609, which was passed by a 221-199 vote, was opposed by numerous organizations, including Michigan University, United States Student Association, American Federation of Teachers, Campaign for America's Future, National Education Association, National Association of Independent Colleges and Universities, Rock the Vote, Council for Christian Colleges and Universities, Women's College Coalition, American Association of University Women and the Lutheran Educational Conference of North America.

###3-30-2006###