“The Higher Education Act opened the door to opportunity for millions of students and families around the country by making college more affordable and accessible to those who are the most in need. On the fiftieth anniversary of its enactment, Members of the CBC call on our colleagues on both sides of the aisle to recommit our efforts to strengthening and reauthorizing the Higher Education Act as soon as possible.
“The Higher Education Act is the largest authorized federal source of funding for student aid. As the cost of college continues to rise, attending college often places a significant financial burden on students and their families. National college loan debt has surpassed $1.3 trillion, with the average borrower accumulating nearly $30,000 in college loan debt. We can no longer afford to slash education and student aid funding, forcing America’s working families to pick up the rest of the bill.
“On this anniversary let’s work to pass the Bank on Students Emergency Loan Refinancing Act and reauthorize the Higher Education Act in a manner that increases access and makes college more affordable for all Americans.”