Reed Hails Passage of Higher Education Opportunity Act
WASHINGTON, DC - In an effort to expand scholarship opportunities for students and improve the student loan system, Congress is poised to approve a bill today reauthorizing the Higher Education Act for the first time since 1998.
The Higher Education Opportunity Act of 2008 includes several key provisions authored by U.S. Senator Jack Reed (D-RI) to simplify and streamline the federal student aid form that all students must fill out to receive tuition assistance; increase need-based grant aid for moderate- and low-income students; and provide teachers, principals, and early childhood educators with the necessary skills and support to effectively raise student achievement in the classroom. The bill also reforms the student loan system to ensure that college financial aid offices are acting in the best interests of the students they serve.
"Passing this bill is a real victory for students and their families. Red tape and paperwork shouldn't be the reason qualified students don't go to college. This new law will simplify the federal student aid application, expand scholarship opportunities for students, and boost teacher preparation programs that have a proven record of raising student achievement in the classroom," said Reed, who helped craft the legislation as a senior member of the Health, Education, Labor, and Pensions (HELP) Committee.
This reauthorization will make Pell Grants available year round and builds on a law Reed helped write last year, the College Cost Reduction and Access Act, which provides nearly $85 million in additional Pell Grant aid for Rhode Island students over the next five years; lowers interest rates on new subsidized Stafford student loans to undergraduate students; caps monthly loan payments at 15 percent of an individual's discretionary income; and offers complete loan forgiveness to students who continue in public service professions for 10 years, including teachers, nurses, and librarians.
The Higher Education Opportunity Act of 2008 also helps reform the student loan system to ensure that colleges are recommending lenders based on the best interests of students.
"Recent reports have uncovered conflicts of interests between lenders and college financial aid offices. This legislation puts the students' interests first and prohibits payments, gifts, and sweetheart deals between lenders and colleges and will hold these institutions accountable," said Reed.
Senator Reed served as a conferee and helped negotiate the bill's final language. The Higher Education Opportunity Act of 2008 includes several key provisions authored by Senator Reed, including initiatives to:
Simplify the Financial Aid Process and Forms
To make it easier for families to deal with the red-tape of getting grants and loans to pay tuition, Reed's measure will reform the Free Application for Financial Aid (FAFSA) by creating a new short EZ-FAFSA for low-income students, and creating a simplified, streamlined online application for all applicants.
FAFSA is a form that must be filled out in order for students to get federal financial assistance such as grants, loans, and work-study jobs.
Reed also created a pilot program that allows students to apply for financial aid in their junior year of high school to ensure that they are aware of the financial aid opportunities available to them so they can plan accordingly.
"Applying for college can be a stressful. We should make the process of applying for financial aid as simple and streamlined as possible," said Reed. "These provisions will help make a sometimes daunting task less time-consuming and frustrating, and give more students access to critical federal loan and grant aid."
Prepare and Develop Effective Teachers, Principals, and Early Childhood Educators
90 percent of new teachers are trained in college teacher preparation programs. Reed authored several initiatives that will help strengthen and improve these programs by ensuring that prospective and beginning teachers possess effective teaching skills; providing intensive, year-long pre-service clinical experiences; and offering high-quality, sustained mentoring and support in their first year of teaching.
In an effort to recruit and retain high-quality early childhood educators, Reed also authored a provision to provide additional compensation for early childhood educators who earn an associate's or bachelor's degree. Reed also included language providing mentoring and field-based experiences for principals and other school leaders.
"Improving teacher quality is the single most important step we can take to raise student achievement. High-quality teachers are essential to providing students with a good education. This legislation will provide federal support to ensure that teachers not only have the credentials to be considered "highly qualified" under the No Child Left Behind Act, but also the skills and training to be effective in the classroom," said Reed. Adding: "Too often, prospective and new teachers lack this kind of training and leave the profession. This bill aims to change that."
Expand Access to College Through Increased Student Aid
Building on the success of the Leveraging Educational Assistance Partnership (LEAP) program, Reed authored provisions creating a new federal financial incentive for states to form partnerships with businesses, colleges, and non-profit organizations to provide low-income students with increased need-based grant aid; early information and assurance of aid eligibility (beginning in middle school); and early intervention, mentoring, and outreach services.
Reed's new Grants for Access and Persistence (GAP) initiative will provide up to $2 in federal matching dollars for every $1 states spend on moderate- and low-income students with a grant that literally fills the "gap" of their unmet financial aid need - tuition and fees or cost of attendance. Research shows that college access programs that combine these elements are successful in making the dream of higher education a reality. Students participating in such programs are more financially and academically prepared, and thus, more likely to enroll in college and persist to degree completion. The authorization level was also boosted for LEAP from $105 million to $200 million.
"For over three decades, the federal-state partnership embodied by LEAP, with modest federal support, has helped leverage state grant aid to students who need financial assistance. Without this important federal incentive, many states would never have established need-based financial aid programs, and many states would not continue to maintain them," noted Reed. "Last year, states matched approximately $64 million in federal LEAP funds with over $840 million in supplemental need-based aid. In Rhode Island, federal investment of approximately $370,000 in LEAP funds spurred the state to expend over $13 million in need-based aid."
Put High-Quality Librarians in Every School District
Key provisions from the LIBRARIAN Act, which Reed authored along with Senator Thad Cochran (R-MS), will help address the shortage of librarians in low-income areas across the country. This measure will cancel Perkins student loans for full-time librarians with a master's degree in library science. Public and school librarians working full-time in low-income areas would qualify for up to 100 percent Perkins student loan forgiveness depending on their number of years of experience.
"Librarians play an essential role in our schools and public libraries," said Reed. "With a shortage of librarians across the country and more set to retire, we must encourage more people to enter the library science field and retain experienced librarians who are already serving our communities."
Increase Loan Forgiveness for Members of the Armed Forces
The Higher Education Amendments also includes a provision Reed authored to expand Perkins loan forgiveness for members of the Armed Forces from 50 to 100 percent.
"Our brave men and women in uniform make huge sacrifices for our nation," stated Reed. "We are committed to providing them with the opportunity to further their education. This legislation will help keep that commitment to our military members and their families by investing in their education and their future."
Provide Greater Opportunities for Students with Disabilities
The bill also includes provisions Reed authored to create career pathways for students with disabilities by providing training and support to middle school, high school, and university staff to encourage interest and understanding of educational and work-based opportunities for students, including those with disabilities, in disability-related fields.
The U.S. House of Representatives today passed the bill by a vote of 380 to 49 and the U.S. Senate is expected to approve the measure later this afternoon. The bill will then be sent to the President to be signed into law.