Washington, D.C. -— U.S. Representative Bob Etheridge (D-Lillington), the only North Carolina member of the House Ways and Means Committee, will offer an amendment to H.R. 3221, The Student Aid and Fiscal Responsibility Act, today to protect the role of the North Carolina College Foundation and the North Carolina State Education Assistance Authority in expanding access to college for North Carolina’s students.
“Higher education is the key to the American Dream for the next generation. In the current economic downturn, it is more important than ever, that students and families have access to information and support to help them pay for college,” said Etheridge. “My amendment ensures that students have access to funds for education and preserves the local relationships that have helped so many North Carolinians as they pursue a better future through higher education.”
Under the legislation, beginning July 1, 2010, all new federal student loans will be originated through the Direct Loan program, instead of through private or non-profit lenders in the federally-guaranteed student loan program. Etheridge’s amendment preserves the right of state non-profit entities to remain involved in the loan process, providing loan counseling and default prevention services that help students and families manage their debt. North Carolina’s State Education Assistance Authority and the College Foundation of North Carolina have had broad success in providing these services and expanding access to college for North Carolina’s students.
These organizations have broad expertise in helping students to prepare and pay for college. Together, they provide a comprehensive source of information for students and their families.