Contact: Will Potter  (202) 822-7823

January 18, 2007 

National Education Association Applauds Approval of House Bill to Cut Student Loan Interest Rates

WASHINGTON -- The passage of H.R. 5, the College Student Relief Act of 2007, will cut the interest rate on federally subsidized student loans in half over the next five years. The legislation, which passed the House 356-71 with substantial bipartisan support, now moves to the Senate where hearings are scheduled for next week.

The National Education Association applauded the move as an important step to making higher education more accessible and affordable for all students.

The following can be attributed to Reg Weaver, NEA president:

“Students shouldn’t be forced to choose between either not going to college or coming out of school saddled with massive debt. Higher education doesn’t only benefit graduates who can earn better-paying jobs. It benefits everyone through a more informed, engaged and active citizenry. We all have a responsibility to make sure higher education is accessible and affordable, and this is an important step in getting there. We urge the Senate to do the same in coming weeks.”

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The National Education Association is the nation's largest professional employee organization, representing 3.2 million elementary and secondary teachers, higher education faculty, education support professionals, school administrators, retired educators and
students preparing to become teachers.