Lloyd Bentsen: “the Republican budget cuts student loans, plain and simple. The Republicans say they want to protect the children, they…”

“the Republican budget cuts student loans, plain and simple. The Republicans say they want to protect the children, they want to provide incentives for investment, but they want to slam the door on middle-class kids who want to go to college. The Republicans want to cut student aid by $9.5 billion by the year 2002. They will start by requiring students to pay interest on their loans before they have moved into their dormrooms, before they have even attended a class. On average, a Texas student would pay up to $5,000 more to attend a 4-year college under the Republican plan. That's $5,000 most Texas families don't have to spend. Middle-class families will struggle to pay this amount when the cost of college is already rising twice as fast as their incomes. Students in my district and the entire Houston area would especially be hit hard by these cuts. Rice University, one of the premier postsecondary institutions in this country, has 2,584 students enrolled this year in its undergraduate program. Of that number, 2,170 students receive financial aid--that's 82 percent of all undergraduates. Of those students, 715 receive Stafford loans totaling $4.7 million. It's difficult to imagine how these students will find an extra $3.6 million to complete their education. The Republicans just don't get it when it comes to student loans. To compete in a world economy, we must encourage kids to get a higher education, not discourage them.”