For anyone that may not be aware, I was fortunate to participate in a Washington Semester program offered through my college. I spent a semester on Capitol Hill working in Rep. John Spratt's office. He's a 14 term Congressman representing the Rock Hill area in SC. I know I'm a little biased here,but I spent 4 months observing the man and he's definitely one of the good guys. Even some "R" friends (that will remain nameless) have serious respect for him. How else would he be able to win a republican district time and time again?
Mr. Spratt is up for reelection this year and like most districts around the country, it has potential to be a tough race. He has a proven record of advocating for his constituents on important issues (like the community health center program that I work for) while always being fiscally conservative and responsible. He's the chairman of the House Budget Committee and is incredibly careful with our precious public dollars. He's one of the smartest people I've ever been privileged enough to be around. And I for one want only the smartest people representing me! I wouldn't stand on the side of the road waving signs at on coming traffic honking their horns for just anyone!
I have to back up for a second and recognize that I would never have had the opportunity to spread my wings in DC if I didn't have loans to help me pay for college. I'm still paying them off, but sincerely believe that they're an investment for our country. Congressman Spratt just introduced a bill that would extend a federal loan program. Now more than ever, we need to invest in education to help us get out of our current economic mess. I definitely know that I would not be where I am today if it weren't for this loan program.
I wanted to show my support for Rep. Spratt and thank him for planting the seed in me to work in public policy on behalf of people that can't always speak for themselves. I can only dream of one day making as big a difference as he has! Check him out, and if you're so inclined, support him however you can!
Here's more info on the bill. Read it on his website here.
Spratt Introduces Bill to Continue Low-Income Students' Access to College and Preserve Thousands of Jobs
WASHINGTON - U.S. Rep. John Spratt (D-SC) today introduced legislation to extend the life of the Perkins Loan program, giving 500,000 low-income students greater access to college each year and providing jobs to thousands who administer and service the loans nationwide.
“Education is the engine of job creation and economic growth,” said Spratt. “By helping students attend college who otherwise might not be able to afford it, we are giving them the opportunity to succeed in today’s economy.
“In my district, two companies employ almost 300 people servicing Perkins loans, and the results speak for themselves: it’s a successful student aid program with a low default rate,” Spratt said.
The bipartisan Perkins Loan Extension Act was introduced in the U.S. House of Representatives by Spratt and cosponsored by Education and Labor Committee Chairman George Miller (D-CA), Rep. Tim Bishop (D-NY) and Rep. Cathy McMorris Rodgers (R-WA).
Bob Perrin, President of Williams & Fudge, Inc., a Perkins loan servicer in Rock Hill, South Carolina, said, “Williams & Fudge, Inc. is very thankful for Congressman Spratt’s leadership, dedication, commitment, and support to preserve the Federal Perkins Student Loan Program. In a community that is experiencing double-digit unemployment, 240 professional jobs at our company are dependent upon the continuation of the program. These same 240 employees who are proud of the role they play in providing future opportunities for students also dine and shop locally, thus adding to the economy.”
Under current law, colleges will begin repaying prior federal funding to the Treasury in October 2012 instead of continuing to make new loans with the funds, a change that would spell an end to the program. The recall date was pushed back a number of times in past legislation, most recently in the 2007 College Cost Reduction and Access Act.
“Allowing the program to end in 2012 will jeopardize college access for low-income students,” said Spratt. “It will also eliminate jobs for thousands of people who administer and service the loans.”
Spratt’s bill changes the repayment date to October 2013, extending the Perkins loan program to allow colleges more time to plan how to continue providing assistance to students who are eligible for Perkins loans.
“Unlike some federal aid programs, there’s a human touch to Perkins loans, where colleges choose the students who apply and then either work with the students or hire companies to service the loans,” Spratt said.
Lori Hartung, Regional Sales Manager for Todd, Bremer & Lawson, Inc., a Perkins loan servicer with about 40 employees in the 5th District, said, "It is great news that Congressman Spratt is taking steps to continue the Federal Perkins loan program that helps make college possible for many people. His leadership in supporting this important loan program will make a difference for people in our community and students across the country."
BACKGROUND
Perkins loans are low-interest (5 percent interest) loans that go to about 500,000 low-income college students at some 1,700 college campuses each year. Students can have their Perkins loans cancelled if they undertake certain public service jobs for a specified length of time, thus reducing their total debt and making it easier to choose to pursue public service.
The program is financed by past federal capital contributions, college matching funds, and student repayments of past loans that are recirculated in a college’s revolving fund. The President’s budget included a comprehensive change to expand and extend the program, but Congress did not include the proposal when it approved changes to student aid programs earlier this year.
