Cantwell: Bush Student Loan Plan "Unfair, Unwise, and Unacceptable"
On Sunday, April 28, The New York Times reported:
"The Bush administration is seeking to ease its budget shortfalls by squeezing $1.3 billion from a federal student loan program. The proposal would prevent millions of college students and graduates from consolidating their education loans to lock in low interest rates. It was made this week to Republican budget negotiators by the White House budget director, Mitchell E. Daniels Jr., as a way to deal with budget shortfalls that are expected to push the federal deficit for this year to more than $100 billion."
Senator Cantwell's statement on the Bush Administration's plan:
"The Bush Administration's plan to save $1.3 billion by denying college students access to low interest rate student loans is unfair, unwise, and unacceptable.
"Nothing is more important in today's information economy than a quality, affordable education.
"But education is getting more expensive and college students in Washington state are now faced with double-digit tuition hikes.
"As somebody who went to school on Pell grants and student loans, I know that we need to make a college education more affordable, not more expensive.
"The Bush Administration should withdraw its plan to increase the costs of student loans and instead commit itself to a meaningful increase in student aid programs."
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