Education Committee Approves Bill to Strengthen Higher Education, Protect Students & Taxpayers
October 26, 2005
WASHINGTON, D.C. - Offering common sense proposals to reform and strengthen student aid programs on behalf of students and taxpayers, the U.S. House Education & the Workforce Committee today approved a plan to secure the programs' long term future while generating about $14.5 billion in savings over the next five years. The plan reduces program waste and inefficiency and places higher education programs on a more stable financial foundation to ensure they remain viable for students today and well into the future.
"This plan accomplishes two very important goals: It preserves and expands critical student benefits while simultaneously generating savings in higher education by making programs more efficient and effective," said Committee Chairman John Boehner (R-OH).
"We need to secure the long-term future of the federal student loan programs, and we can only accomplish that by placing them on a more solid financial foundation," added Boehner. "Unfortunately, House Democrats have pushed fiscally irresponsible proposals that would actually weaken and destabilize the programs and threaten our ability to provide college access in the future. We cannot simply ignore the consequences of the policies we're creating today."
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