College Cost Reduction Act Of 2007
Mr. Speaker, the road to a better society is paved with better education. H.R. 2669, the College Cost Reduction Act of 2007, is the single largest investment in higher education since the GI bill and highlights the commitment of this…
Mr. Speaker, the road to a better society is paved with better education. H.R. 2669, the College Cost Reduction Act of 2007, is the single largest investment in higher education since the GI bill and highlights the commitment of this Congress to making college more affordable. By making this investment in our students, we are investing in the future of our country.
This landmark legislation will provide vital assistance to low- and middle-income students by increasing the Pell Grant Scholarship by $500 over the next 5 years. In the State of Texas alone, over 470,000 could benefit from this increase.
H.R. 2669 will also encourage philanthropic participation in college financing through matching grants aimed at increasing the number of first generation and low-income college students.
By passing this bill we will be making great strides on behalf of minority students. The College Cost Reduction Act invests $500 million in minority serving institutions and creates two new designations-- Predominately Black Institutions and Institutions Serving Asian Americans and Pacific Islanders. By recognizing these institutions, we recognize their commitment and dedication to serving our minority students.
Mr. Speaker, I believe in an America where every child should grow up knowing that if they study and work hard, that they will have the opportunity to achieve the American Dream.
I believe in an America where the circumstances into which you are born do not determine whether you will one day stand in front of family and friends as you receive a college diploma.
I commend Chairman Miller and our Democratic Leadership for their continued commitment to ensuring that a college education is not out of reach for low- and middle-income Americans.