Miller Statement on the 40th Anniversary of the Pell Grant Program
WASHINGTON – Rep. George Miller (D – Calif.), the senior democrat on the House Education and the Workforce Committee, today issued the following statement on the 40th anniversary of the Pell Grant program.
“40 years ago, Congress took steps to make the dream of a college degree a reality for millions of low- and middle-income students and their families with the passage of the Basic Educational Opportunity Grant, known today as the Pell Grant program. Since its inception in 1972, the Pell Grant program has become the cornerstone of our nation’s student aid program, providing a key to the American Dream for students who may otherwise not be able to afford a college education.
“As college costs continue to rise rapidly, far outstripping families’ ability to pay for them, access to Pell Grants is more important than ever. With the maximum Pell Grant at an all-time high, we in Congress must continue our efforts to make college affordable, protect educational opportunities for all, and keep college costs transparent. One of the many ways Congress can make higher education more financially manageable for students is by keeping interest rates on need-based student loans low. In just eight days, those interest rates will double if Congress does not take action. Time is short. Providing continued relief for students who are financially struggling to obtain the education and skills they need to succeed is a win for families and a win for our global competitiveness.”
Created to make college more accessible to low-income students, the Pell Grant program has been under recent attack from Congressional Republicans. In March, House Republicans passed a budget that would cut 400,000 students from the Pell Grant program in the 2013-2014 school year. The House Republican budget would also permanently damage the program, eliminating all mandatory funding for Pell Grants and cutting planned –and already paid for – inflationary increases.
For more information on the effects of the Republican Budget on higher education and federal Pell Grants, click here.
On July 1, interest rates on subsidized Stafford loans for more than 7 million American will double from 3.4 percent to 6.8 percent, costing millions of students an additional $1,000 in repayment costs.
For more information on the July 1st increase in some student loan interest rates, click here.
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