SENATE PASSES LEGISLATION TO GUARANTEE ACCESS TO STUDENT LOANS
The Senate passed legislation today to guarantee that students will have continued access to the loans they need for college. The legislation extends for one year Senator Kennedy's Ensuring Continued Access to Student Loans Act, which was signed into law last May and has stabilized the student loan market, so that students currently attending college will have the resources they need to stay in college. The extension means this needed financial assistance will continue to be available through the 2009-2010 college year. The House passed the legislation earlier this week.
Melissa Wagoner, spokeswoman for Senator Edward M. Kennedy, released the following statement on today's Senate action: "As the financial markets continue their downward spiral, Congress has taken action to guarantee ensure that college students will have the financial assistance they need. Despite the turmoil on Wall Street, we must send the message to students and families that their college dreams won't be ruined. This legislation ensures that the loans students rely on to pay for college will continue to be available."