Political Quotes

“today I am joining with Senators Grassley and Lee in introducing legislation to extend for an additional 7 years the antitrust exemption permitting colleges and universities to collaborate on issues of need-based financial aid. This exemption, which was first enacted by Congress in 1994, allows colleges and universities that admit students on a need-blind basis to collaborate on the formula used to determine how much families can pay for college. The Need-Based Educational Aid Act of 2015 is the fourth reauthorization of this exemption, which is set to expire this year. Congress must always carefully consider the benefits and drawbacks of creating exemptions to the antitrust laws. These laws serve as an important bulwark to protect consumers from anticompetitive conduct. The Government Accountability Office has studied the effect of this particular exemption in the past and concluded that allowing universities to talk among themselves about financial aid policies and procedures has not caused any harm. Antitrust exemptions should not be a blank check, however, which is why this exemption is not permanent. Our legislation will sunset the exemption once again in 2022 and we have removed one of the permitted activities that no school has ever used. A time-limited exemption ensures that Congress will continue to conduct oversight in order to assess the impact on consumers.…”