Congressman Dan Maffei today joined President of Onondaga Community College (OCC), Dr. Debbie Sydow, and several OCC students to discuss the implications of the recently passed landmark bill, the Student Aid and Fiscal Responsibility Act (SAFRA) (HR 3221).
SAFRA will expand access to an affordable college education to more American students, transform early education opportunities, and build a world-class community college system. The bill also included an amendment introduced by Congressman Maffei to expand employment opportunities to those in Job Corps and Youthbuild programs and community college students.
Congressman Maffei said: “This is a crucial step toward rebuilding the American economy, making sure young people have the ability to attend college or get career training, and that our work force remains the most highly skilled and effective in the world. Earlier this year I introduced an amendment to ensure we’re expanding opportunities to community colleges, and I am pleased it was included in this bill.”
“The nation’s community colleges have a key role to play in our economic recovery. The Student Aid and Fiscal Responsibility Act and the American Graduation Initiative will increase the capacity of community colleges to support the success of millions of students of all ages and backgrounds across the United States. Onondaga Community College is grateful to Congressman Maffei for his leadership in supporting this important legislation,” said Debbie L. Sydow, Ph.D., president of Onondaga Community College.
SAFRA is a major step forward in President Obama’s initiative to make sure America once again leads the world in college graduates by 2020. This bill will reform the system of federal student loans to save the taxpayers $87 billion and will direct $10 billion back to the Treasury to reduce entitlement spending. SAFRA will change the way the student loan system functions by originating new loans through the government’s Direct Loan program, but will maintain competition among private lenders and non-profits to provide top-notch customer service for student borrowers. This simple change will make college loans more reliable for students and families -- and ensure that loans operate in the best interests of borrowers by reducing many of the potential conflicts of interest that exist in the current loan system.
With the largest-ever investment in higher education, this bill will also significantly increase government grant and loan assistance for college tuition payments. Pell Grants, already distributed to more than 7 million students, will increase to $6,900 by 2019 from $5,350 today. SAFRA also keeps interest rates low on government-subsidized loans, makes substantial investments in early childhood education, expands the Perkins low-cost loan program to every U.S. college, and simplifies the process of applying for student financial aid.
Congressman Maffei continued: “With tuition costs soaring as families struggle through a difficult economy, I’m thrilled we could come together to expand critical opportunities for higher education in this country. This bill includes major investments in our community colleges across the county, and outlines a commitment to ensure they produce highly trained students who are prepared to enter the skilled workforce of the 21st century. Allowing our students to graduate with a better education and less debt is the best way to insure that American workers remain competitive long into the future.”
Learn more about what SAFRA will do for our district here.
