Pallone Meets With Rutgers Students To Discuss Federal Support for College Affordability

New Brunswick. – Congressman Frank Pallone, Jr. met with Rutgers students on Monday to discuss federal support for college affordability and to hear from the students about their concerns over attempts in Washington to backtrack on the progress congress has made in college aid. The fate of Pell Grants was a principal point of discussion.

"Congress made real progress in the past few years on college affordability by increasing Pell Grants and other federal programs that help students with their education," said Pallone. "That progress is now threatened by some in Congress who have made repeated attempts to reduce these grants."

Pell Grants - termed the cornerstone of federal financial aid, according to Pallone - were increased from $4,050 per year to $5,550 annually in 2010.

The new Republican majority has repeatedly tried to slash Pell Grants. They attempted to reduce the maximum grants by $845 to $4,705 for the current year then they tried again to slash them by $2,500 to $3,040 for the upcoming year. The GOP also tried to eliminate the $758 million Supplemental Education and Opportunity Grants program, which goes to 1.3 million students.

Recently, Democrats fought for other ways to make college more affordable for everyone. By reducing interest rates for undergraduate students, we saved the typical student borrower more than $2,000 over the life of the loan. Also, starting in 2014 many new borrowers will be able to cap their monthly loan payments to just 10 percent of their discretionary income, providing even more savings.

"Education has historically been a stepping stone for upward mobility in America," said Pallone. "It has always been part of the American success story. We shouldn't let it die. Those who want to slash college aid say the times are tough for government. But they are even tougher for middle class families with college-bound kids."