Congress gets it right with act to reduce college costs

In “Rising debts worry students” (News, Oct. 5), Michael Gallin’s experience only begins to shed light on the barriers to higher education that the rising costs of higher education are creating. Paying for an education isn’t as easy as it used to be. Around the country, fees and tuition are increasing and financial aid is being cut.

In the UC system, fees have increased 79% over the past 5 years while financial aid has been cut. Until now, elected officials have failed to prioritize our needs.

Because of this, the average student now graduates with over $19,000 in debt. Students are working longer hours and incurring larger amounts of debt. Federal grants such as the Pell grant, designed to help students with the most financial need, used to cover 75 percent of college costs. Now the Pell grant barely covers 35 percent. This is unacceptable.

Student loans do not offer much more assistance. With interest rates for loans such as the subsidized Stafford loan at 6.8 percent, many students are forced to obtain jobs after college based on their levels of debt, not their passions or values.

These attacks are impacting low and middle-income students and families the hardest. By the time I graduate in June, I will have incurred $25,000 in loan debt. Dreams of a college education are being deferred because the costs of college are so daunting. Many working class students are struggling to balance the wages and the books.

There is an opportunity for change though. Recently passed in the House and Senate and signed by President Bush, the College Cost Reduction Act (H.R. 2669) prioritizes the access and affordability of higher education.

For the first time in over 60 years, students will see a significant increase in student aid. The bill increases the maximum award for Pell grants to $5,400, cuts Stafford loan interest rates in half by 2013, limits debt repayment to 15 percent of a person’s monthly income, and expands loan forgiveness programs for graduates working in public service careers.

Provisions for increasing the Pell grant help students get through college, while the loan provisions provide a manageable payment plan after graduation. The recent passage of the College Cost Reduction Act is a step in the right direction.

Now students are joining together with the United States Student Association and the University of California Student Association to tell Congress that education is a right.

We must continue to make higher education a priority by reauthorizing the Higher Education Act and passing the California and Federal DREAM Acts.

The College Cost Reduction Act helps with the burden of student debt, but Congress needs to support comprehensive legislation to improve access and affordability of higher education for all.

Cendana is on the board of directors of the United States Student Association.

Leave a comment

Your email address will not be published. Required fields are marked *