James M. Jeffords: “I am proud to say again that this bill preserves the focus on students, who are the primary reason we have a Higher…”

“I am proud to say again that this bill preserves the focus on students, who are the primary reason we have a Higher Education Act in the first place. Students now in school will be assured of receiving the lowest interest rate on their loans in nearly two decades. Students now in high school who aspire to a college education will benefit from an expanded early intervention program known as Gear Up, as well as continuing to receive services from the time-tested and highly regarded TRIO programs. The new Gear Up Program combines features of the existing National Early Intervention Scholarship Program, which I sponsored in 1992, with recommendations proposed by the administration and included in the House bill. The Gear Up Program preserves the best features of the program now operating successfully in nine States while expanding the pool of participants and approaches involved in early intervention. Students who have graduated and are faced with exceptionally high loan burdens will be able to take advantage of extended repayment options under the Guaranteed Loan Program. In addition, the measure provides a 4-month window within which borrowers now in repayment may refinance their loans through either the Federal Direct Loan Program or the Federal Family Education Loan Program.”