Education News

Op-Ed

Dear Friends,

I'm pleased to share some great news with you! It's all related to education, and that spells bright things for our future.

Interest Rates on Federal Student Loans Going Down:
This month we marked the beginning of the largest college aid expansion in six decades. The College Cost Reduction Act took effect and we saw the first in series of rate reductions on federal student loans that will ultimately cut the rate in half. The interest rate on federal student loans dropped from 6.8 percent to 6.0 percent this month. That rate will continue to drop until it reaches 3.4 percent by 2011. All together this new law will boost college financial aid by more then $20 billion over the next five years.

The interest rate cut will benefit low and middle income students and families. In Ohio, more than 173,000 students take out need-based loans each year at 4 year public schools and the typical student borrower has $13,800 in need-based student loan debt. Once fully phased in, this interest rate cut will save the typical student borrower an average of $4,400 over the life of the loan.

I firmly believe that a college education should not be an opportunity made available only for the elite. Education is the key to students' futures, Ohio's future and to this nation's future. I'm so proud that we've made good on our promise to make higher education more accessible to hard-working American families like those in Ohio.

New GI Bill:
This month we also celebrated a landmark expansion of the GI Bill of Rights. Congress fought for this expansion and I'm proud it's now law.

Our courageous war veterans deserve the best we can give them. Since World War II, our nation has offered college assistance to returning vets. It's a good program for our veterans, and frankly it's been good for the country. For every dollar we have invested in GI education, we've generated $7. That's a great return on our investment. But, with education prices continuing to skyrocket, we had to update the program and this bill ensures that our returning veterans will have excellent educational opportunities.

More than 53,450 from Ohio have been deployed to Iraq or Afghanistan. Unfortunately, current benefits pay only about 70-percent of a public college education and 30-percent of a private college education for these veterans when they return home. The expanded GI Bill restores full, four-year college scholarships to veterans of the Iraq and Afghanistan wars to help make them part of an economic recovery like the veterans of World War II. The legislation also allows veterans to transfer those benefits to family members.

Department of Education Grants Headed to Ohio's Sixth District:
Earlier this week I announced that three major grants from the U.S. Department of Education will benefit Ohio's Sixth District. Both the Marietta Family YMCA in Washington County and the Shadyside Local School District in Belmont County have been selected to receive federal funding under the Carol M. White Physical Education Program. Bellaire Local School District in Belmont County is set to receive federal funding under the Safe Schools/Healthy Students Grants Program.

Bellaire Local School District in Belmont County has been awarded $631,915 for the period of July 1, 2008 through June 30, 2009. The Department of Education says, depending on available funding, that the grant could continue for a total of four years for overall funding of up to $2.5 million. The Department reports that the purpose of the grant is "to provide students, schools and communities the benefit of enhanced comprehensive educational mental health, social services, law enforcement and, as appropriate, juvenile justice system services that can promote healthy children development and prevent violence and alcohol and other drug abuse."

Shadyside Local School District in Belmont County will receive $371,689 for the same fiscal period to expand or improve its physical education program. Based on available funding, this grant is anticipated to continue for a total of three years for potential total funding of up to $1.1 million.

The Marietta Family YMCA at 300 North Seventh Street in Washington County will also receive a Physical Education Program grant in the amount of $265,378 for the first year of the program with a potential three-year program total of up to $796,000.

Educating our children and keeping them healthy is so important. I'm so proud of all of the fine work that our communities are doing to obtain these federal grants so that our children can benefit.

I hope you find all of this news about real expansion and help for education as exciting as I do.

Sincerely,

Charlie Wilson
Member of Congress

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