Keeping College Affordable

“In a time of mounting challenges for America’s middle-class, I am urging caution and moderation in cutting funding for higher education student loans. "—Nebraska's Senator Ben Nelson

Nebraska’s Senator Ben Nelson caught this redfish in December 2004 off the coast of Florida near Naples.

Nelson Fights to Preserve Student Loans

In response to a Senate bill that would severely limit the financial options for families sending their children to college, Nebraska's Senator Ben Nelson introduced an amendment that would preserve a highly successful and affordable college loan program that helps students across America continue their education .

Nelson’s amendment, offered with Senator Richard Burr of North Carolina, would reduce cuts in federal subsidies for the Federal Family Education Loan (FFEL) program. The Higher Education Reconciliation Bill (H.R. 2669) proposes cutting $18.5 billion over five years from the FFEL program. Nelson’s amendment would maintain $15.65 billion in cuts and restore the difference, ensuring the program could continue to be an option for America’s families and students seeking affordable college assistance.

Importance of Student Loans

Even at the University of Nebraska, which offers a quality and cost-effective education, the average graduate holds $16,872 in debt as they enter the working world.  For many students across the nation, the picture is even bleaker as students graduate with the equivalent of a home mortgage.  Over the last 10 years the problem has grown worse and average tuition and fees at four-year public and private institutions increased by 38%.

The federal family education loan program has afforded young Americans the opportunity to attend college for over 40 years, and is a critical part of making college a reality for many in the middle-class.

More Resources

Read the bill text of the amendment.
Read Senator Nelson's floor statement from July 19, 2007.