Student Loan Reform Puts Students First

Organizing for America-New York Director, Melissa DeRosa released the following statement after resident Obama signed Student Loan Reform into law this morning as part of the Health Care and Education Reconciliation Act:“The student loan reform signed into law today is a great victory for American students, families, and taxpayers. Not only is this reform the largest investment in higher education in history—it is further evidence that President Obama is committed to rebuilding our economy for the long-term. “This reform will save billions of dollars by cutting out the middlemen in student loan lending and ending taxpayer-funded subsidies to banks. At the same time, it will put these savings back into the hands of students and expands access to education by raising the maximum Pell Grant. It will make loan re-payments more affordable and will invest in community colleges and minority-serving institutions. These sorts of commonsense solutions will help American students, whether they are young people just starting out, or Americans looking to start a second career. “Student loan reform is a real and significant accomplishment on behalf of everyone who believes that education opens the door to the American Dream. It is a meaningful investment in bettering the lives of middle class Americans, and students across the country will soon feel its results. Organizing for America supporters worked tirelessly to support the Health Care and Education Reconciliation Act, and we are proud of our role in implementing President Obama’s ambitious agenda to get our country back on track. Together with the significant health reform signed into law last week, student loan reform is just the latest sign that President Obama is bringing about the change Americans voted for in 2008.”

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