Two proposals in Congress that would cut $9 billion from student loan programs brought about 50 students from colleges in the D.C. area to George Washington University yesterday to rally against the possible budget cuts.
"Enabling students to pay for their education strikes at the core of what our nation stands for," said Morgan Corr, executive vice president of the Student Association at George Washington University.
Sixty eight percent of college students take out loans to pay for their education, USSA President Eddy Morales said.
In April 2005, Congress instructed the House Committee on Education and the Workforce to cut $12.651 billion from student loan and pension benefit programs. Thus far, the committee has decided to cut $9 billion with the possibility of cutting an addition $2 billion from student loan programs, according to a USSA press release.
The new budget would begin affecting students for the 2006-2007 school year, said Jasmine Harris, USSA Legislative Director.
"My debt severely limits my life and choices I will make when I graduate," Corr said who has $30,000 in debt. "My education will open many doors for me, but how many doors will it close due to my debt?"
The Higher Education Act, which is made up of House Bill 609 and Senate Bill 1614, will also drastically impact students and their loans, which is renewed every five to seven years. Representatives John Boehner (R-Ohio) and Howard McKeon (R-Calif.) are the major supporters of the bill.
Among its many alterations to the current law, HR 609 proposes to increase the interest rate on student loans from 6.8 percent to 8.25 percent, which on average will cost students an additional $1,718. Also, the bill proposes changing students' eligibility for a Pell grant to allow both need-based aid and merit-based aid. Need-based aid allows more students from low-income families to attend college. It also could eliminate in-school loan consolidation that gives students a lower interest rate. On average, a student will have to pay up $5,800 extra in loan repayment, according to the USSA.
"We are creating a society that not a student's GPA but his parents' bank account determines not where but if he will go to school," said Georgetown junior Dante Randazzo.
The USSA is currently rallying student support in response to these two bills. Yesterday's event was organized with the purpose of raising student awareness in the media and bringing schools together to plan for future events, said Matt Larson, representative for the General Assembly Class of 2008.
"We cannot passively watch as Congress takes a leap backward to close the door on students," USSA President Morales said.
The USSA is supporting a Call-in Day on Sept. 20. They are asking all students to call their representatives to voice their opinions about the bill. They are also asking students to submit letters to newspapers and visit their representatives.
"Will all of [the DC universities] working together we have great resources and can make great changes," said Katie Myers, representative for the AU General Assembly Class of 2008.
Georgetown's student government encourages students to visit their representative because it is easy to ignore a phone call but harder to look a student in the face and say $9 billion will be taken away from you, Randazzo said.
Larson, Myers and Charlie Biscotto, who represent the Class of 2008 in the General Assembly, are currently drafting a resolution that voices the discontent with House Resolution 609. This will hopefully be brought to debate Sunday, Biscotto said.
House Resolution 609 will be brought to the floor for vote mid-to-late October, Harris said.
"This vote threatens our future," April Harely, vice president of the Howard University Student Association, said. "We will be a generation that lives in debt."
No members were present to present their view of the bill due to the House schedule.
"We need to [speak out against the bills] on a group and individual level to maximize our influence on this issue," Larson said.
