(Washington, D.C.) – Today, U.S. Senator Patty Murray (D-WA) praised passage of the Ensuring Continued Access to Student Loans Act of 2008 in the U.S. Senate. The bill includes several measures that expand access to student loans at a time when many American families are struggling to afford college.
As a member of the Senate Health, Education, Labor and Pensions (HELP) Committee, Senator Murray worked to craft the legislation.
"We can’t let our declining economy mean declining college enrollment," said Senator Murray. "As economic turmoil continues, this bill aims to stabilize the student loan market so our students won’t have to sacrifice their chance at higher education. By restoring much needed liquidity and confidence in the student loan market, this bill makes sure that a student’s education is not disrupted because the credit market is disrupted."
This critical bill improves loan access for parents and students by:
- Reducing the need for students to take out expensive private loans,
- Providing better options for parents who borrow for their children’s college education,
- Improving parent access to PLUS loans during the mortgage and credit crisis, and
- Keeping the availability of federal student loans stable for students.
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