Back to School

School is back in session -- and so is the United States Senate.

In July, I wrote to you about our impressive Senate victory for America's college students. Democrats passed the Higher Education Access Act, the largest student aid relief package since the GI Bill in World War II!

The House and Senate have now agreed on the final version of the bill, and the Senate is likely to approve it today, followed quickly by House approval. It's now called the Higher Education Access and Cost Reduction Act, and in a matter of days, it could be on the president's desk waiting for his signature.

Democrats are doing everything in their power to prevent the student loan industry from derailing this needed legislation. For years, Sallie Mae and other lenders have been siphoning off billions of dollars in federal subsidies intended for students, while charging students astronomical interest rates for the loans they need to pay for college. It's long past time to put a stop to that outrageous abuse.

Just this week, I released a new report on the urgent need for student loan reform. The report describes how lenders make improper payments to colleges in return for preferential treatment on student loans. The abuses include "day retreats," free Rose Bowl tickets, and even free manicures and pedicures for college officials. These benefits are used to entice those officials to favor particular lenders instead of providing neutral financial advice to students.

Student loans shouldn't be decided by box seats and beauty services. We owe it to students to provide them with every opportunity they need for success, and to make sure they're getting the best deal possible for their hard-earned education dollars.

I've received thousands of stories from people across the country who struggle with college debt -- including many from people here at the Huffington Post.

Phansen wrote:

I'll be starting grad school in a month, pursuing a PhD in English. While I'm hoping to leave with only about 25k in loan debt, I'm not heading towards a particularly lucrative career. By making education financing so difficult, we pressure students to enter professions based purely on financial reward. How will this impact our national culture down the road, when all we have is I.T. professionals and lawyers?

Ron704 wrote:

I have over $40,000 in student loan debt and went to a state university in my middle age in an attempt to better myself. Unfortunately, now I'm disabled and I'm 2-1/2 years into the social security process. I'm quite sure every nickel and dime bill collector that my loans got sold to will be in line to garnish the paltry sum I will eventually receive from SS, keeping me in abject poverty the rest of my life. Even at that, with interest accumulation, there's no possible way my loans could ever be paid in my lifetime.

Every year, 400,000 qualified students don't go to a four-year-college, because they can't afford it. Those who do attend are too often faced with crippling debt like Phansen and Ron704 face.

We're a better nation than that. Please contact your representatives in Washington to ensure that the Higher Education Access and Cost Reduction Act makes it through Congress -- and that President Bush signs it into law.

 

Comments

[splashy]

I'm a prime example of someone that did not go to college because of financial considerations. Considering my abilities, it may have been a good thing for others if I had had the opportunity.

Thank you for trying to help those that it's not too late for.

[dubster]

Senator Kennedy-thank you!
I'm a current undergrad student with two years to go and am already several thousand dollars in debt and I have not bee able to obtain any scholarships thus far even though I'm a 4.0 student, have been involved in student government, community, and at church. In addition, I still want to to law school and we know that that isn't going to be cheap.
After reading for several months about the outrages practices of some of these financial aid offices across the country, it's difficult to not get enraged! Nevertheless, I want to thank you for trying to make it easier for the students even though they're not a reliable voting block. Something the republicans would never do if they don't get something in return from their constiutents i.e. votes.

[1differentdrummer]

Dear Senator,
Who helped w get his vaunted NCLB? You did and despite your career of writing good legislation, that one's a dud. How'd that happen???

[gardenbookie]

How many students can we put through college for 4 Billion Bucks a week? There's something wrong with how are tax dollars are being spent. Isn't it time we got the hell out of Iraq and started taking care of our own?

[grannyE]

This is just a tiny beginning, sir. (it is still dumbing down Americans) Why not let it be known that there are third world countries that provide FREE college educations? Shhh. Don't even whisper it.

[cadbury]

This is an important topic. BUT it must be seen as secondary to ending the war which eats up our young and national treasure every day that it continues! Please, Senator Kennedy,do something! When are you & your colleagues going to limit funding and force Bush to redeploy the troops? Are you going to fall for his latest version of "success" and "progress" in Iraq despite all the latest intelligence? I will not fund any democratic candidates or vote for any democrats unless you guys finally DO something. What is holding you back? The country is with you! Please, DO something about the mess in Iraq, then we'll worry about high tuition and student loans.

[ps22]

This act will do almost nothing to improve college access. Lowering interest rates from 6.8% to 3.4% on student loans does nothing to address the fact that average tuition is hovering around $25,000 / year. A college education is not unaffordable because interest rates are too high; college is unaffordable because students & parents have to borrow anywhere from $25-75,000 to pay for college.

Also, the massive cut in lender subsidies that is needed to fund this interest rate cut will drive all but the largest lenders out of business, which will limit competition, eliminate incentives provided by lenders to students, and insure only the largest lenders survive (who happen to be the same companies that were bribing their way on to campus to begin with).

While increasing funding for Pell Grants is a great thing, comparing this act to the GI Bill is ridiculous.

Now I'll get back to work before I get fired and default on my student loans...

[Kundera]

Will any of these schools have sobriety lessons?
Will any of these schools have wind farms?

[Kundera]

Will any of these schools have driver's education?
Will any of these schools have swimming lessons?

[Guitarsandmore]

Edward,

Now, do the same thing for Solar panels and wind generators. The consumers need no interest or low interest loans ameratized over a fifty year period to make Solar and Wind affordable.

We need a Federal Mandate to have solar panels on every rooftop by the end of the decade. Time is short. Global warming is real. Prepare to move away from the beaches.

Regards,

G&M

[Ethel]

Without adequate education we are a nation of people unprepared for the challenges of the future. This bill is a step in the right direction!
Looking at earlier education, before the college/university years, we desperately need to improve every child's preparation for advanced learning by improving the health and environmental factors in our elementary and high schools!
While schools are on the hot seat and teachers are bashed ruthlessly for student underachievement, perhaps we need to take a closer look at the conditions under which they labor.
In a study by the University of California at Irvine (Women's Teacher's Study)it was found that women teachers in California have a 51% greater chance of getting cancer than any other women in the state.
Although the 'why' is not scientifically evident at this time, it certainly says that there is a problem with being a teacher.
Some of the illness producing/not healthy environmental conditions that are prevalent in our schools are:
The high VOC/Formaldehyde air in numerous "relocatables" (trailers) where staff and children spend 8 or more hours a day working...the Katrina survivors are also having documented problems with this.
The use of pesticides instead of cleaning and repairs to control ants and cockroaches,etc.
There is no "safe" exposure to pesticides according to our legal language, and yet many schools still use neurotoxic substances routinely to offset the pest populations. How much exposure can the kids take before showing learning problems?
Many classrooms have inadequate fresh air. In one such situation 4 classes of young children were housed in a 'pod' that was tested for CO2
levels because 'everyone was always getting sick and sleepy". It was found to have 2800ppm of CO2! Three times the maximum allowable...nothing was done about it.
How many other classrooms have the same problem? How can children learn under these conditions?
Looking forward to great improvements in the environment in our children's schools.

[Kajur]

Mr. Kennedy! You put the stick into the hornet nest! Forcing parents to pay 7-8% interest on ever rising college cost borders on banditry!
Where you have been when neocon criminals shovel this true Congress?

[coloneblog]

Senator, The Democrat controlled Congress has a long way to go. Really, you all have to figure out a way to get Cheney/bush to redeploy our troops out of Iraq before they leave office. You can begin the effort by charging Cheney/bush for crimes against humanity for the Iraq lie and then, for crimes against America for duping the American people. How about setting-up an Iraq War Tax on the richest of Americans to begin paying for this ongoing fiasco retroactive to March 2003; "a day that will live in infamy." Senator, The Democrat controlled Congress has a long way to go.

[SadieYates]

THANK YOU SO MUCH TED KENNEDY!!!
You and your family have done more for the poor and working class in this country than bush has ever done for the rich and the oil companies. you are DEMOCRATIC ROYALTY!!!!!
term limits? hell no.
you are a lifer!
love ya!

[Dejack]

EARTH TO CONGRESS!
EARTH TO CONGRESS!

END THE WAR IN IRAQ!

DE-FUND
INVESTIGATE
IMPEACH