Pelosi Urges President to Sign Into Law Bipartisan Bill Ensuring Access to Affordable Student Loans

WASHINGTON, May 6 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi issued the following statement today urging President Bush to sign a bill Congress sent to the White House today that provides students and families with uninterrupted access to federally guaranteed student loans, despite the current credit crisis:

"Families with college students are right now deciding if they can afford school this fall. The New Direction Congress has worked with President Bush to provide the largest college aid expansion since the GI Bill in 1944, making college more affordable and accessible to students across America. We cut interest rates in half and expanded Pell Grants.

"Now we need the President to take the next step to ensure these affordable loans make it to students in time -- as families suffer from the credit crunch that has taken lenders out of the market and hurt our economic strength. America cannot afford to fall behind in the global marketplace -- nor can we let our young people fail to fulfill their potential -- because the national credit crunch limits qualified student borrowers from advancing their education."

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2008-05-06 18:30:01 0354598 PRNEWSWIRE