Enzi Applauds Signing of Higher Education Act Reauthorization Says Law Will Make College More Affordable, Hold Universities and Lenders More Accountable

Washington D.C. – U.S. Senator Mike Enzi, R-WY, Ranking Member of theSenate Health, Education, Labor and Pensions Committee (HELP Committee), todayapplauded President Bush for signing into law a bill to reauthorize the Higher EducationAct (HEA), which he said will improve higher education affordability, access, andaccountability. “Today is a great day for America’s students and their families preparing forschool this fall and in the years to come,” Enzi said. “This bill is critical to enhancing oureconomic security, and improving the knowledge and skills that are the gateway to thefuture for our students, working families, and businesses. “After over four years of negotiations, I am proud to have the President sign thisbill to strengthen higher education programs and expand access to a college education formillions of Americans. The bipartisan agreement enacted today ensures that studentswho are in school or will enter postsecondary education over the next decade will find iteasier to get the education they need and to develop the skills and knowledge to besuccessful in this competitive world.” Enzi said that Senate approved H.R. 4137, the “Higher Education OpportunityAct,” by an 83-8 vote on July 31. “This agreement will restore students’ trust in student loan programs by holdinglenders and schools to a code of conduct,” Enzi said. “It will also ensure that studentsand parents have the information they need about the costs of college and the financialimpact of their loans so they can make sound decisions about their futures.” The “Higher Education Opportunity Act” includes provisions to:• Provide consumer friendly, easy to access and understand, detailed informationabout college tuition and fees.• Simplify the financial aid application process.• Require colleges to establish Codes of Conduct to prohibit their financial aidemployees from receiving anything of value in exchange for advantages soughtby lenders.• Require greater disclosure in college costs, including: college price watch lists;internet-based calculators of the net cost of college; and greater disclosure oftextbook costs.• Provide in-state tuition for members of the Armed Forces and their dependentswho have lived in a state for more than 30 days.• Authorize year-round Pell grants so that students can accelerate their course ofstudy, and expand grant programs for non-traditional students. ####