Braley Highlights Clear Choice on College Affordability at the University of Iowa

Press Release

Bruce Braley today visited the University of Iowa to discuss the clear choice in the US Senate race on college affordability.

While Braley is working to reduce the burden of college costs, Joni Ernst said she'd do away with federal student loans and Pell grants, which could put college out of reach for the hundreds of thousands of Iowans who rely on that aid annually for their education. As a new report released last week by Braley for Iowa shows, State Sen. Ernst's radical plan has devastating consequences for Iowa students and families, including:

Eliminating The Department Of Education Would Force Iowa Students Receiving Pell Grants To Pay Up To $5,730 More Per Year For College -- Or $22,295 over four years
Eliminating The Department Of Education Would Force Iowa Students To Take On Thousands In Debt Through Private Lenders
Ernst's Proposal Would Slash Federal Work-Study Aid For More Than 4,000 Iowa Students

By putting banks between students and access to an affordable education, Iowans could face significantly higher interest rates, loans that are harder and more expensive to pay off, and even the possibility of not qualifying for a loan at all. Joni Ernst's radical agenda is wrong for Iowa.

Across Iowa, more than 111,000 students received almost $359 million in Pell Grants during the last school year (maximum Pell grant of $5,645), including 4,198 students at the University of Iowa who received $15,643,378 in Pell Grants to help cover the costs of their education during the 2013-2014 school year.

Braley, who used student loans to attend college, has reached across the party divide to deliver results and reduce the cost burden of college by expanding the Pell Grant program, which provides need-based grants to low-income students to help them afford the costs of college. Braley also introduced and worked to pass legislation to keep student interest rates and payments low, and voted to remove the middle man from Federal student loans which saved the government billions and ensured money meant for education went to students, not banks. In the 2012-2013 school year, students attending Iowa schools received 228,620 federal Stafford loans worth more than $1 billion. Stafford loans are often cheaper than private fixed-rate loans.

"A good education is the gateway to economic opportunity, but too often, the rising cost of tuition and other college costs are putting that dream out of reach," said Braley. "That's why I believe we must do everything possible to make college more affordable, including expanding the Pell Grant program that already helps more than 111,000 Iowa students. But State Sen. Joni Ernst would increase college costs for Iowa students and families with her Tea Party agenda that privatizes all student loans and jeopardizes Pell Grants for nearly 4,200 students at the University of Iowa. As a U.S. Senator, my focus will always be on expanding, rather than limiting, access to a quality college education."

Braley has made college affordability a priority throughout his time in Congress. In addition to working to expand the Pell Grant program and keep student interest rates and payments low, he has introduced legislation to renew tax credits that offset tuition and college costs. Braley also supports legislation that allows people to refinance student loans to lower interest rates.

According to the Project on Student Debt, students attending four-year colleges and universities in Iowa graduate with an average student debt of $29,456, and 71% of students graduate with some form of debt.

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