Congresswoman Matsui Applauds Report Showing Historic Gains by 111th Congress in Financial Aid for Higher Education
FOR IMMEDIATE RELEASE
Monday, November 1, 2010
CONTACT: MARA LEE
(916) 498-5600
CA Today, Congresswoman Matsui applauded the College Board's Trends in College Pricing and Trends in Student Aid reports, which reflect the great strides the 111th Congress has made to keep college affordable. The College Board report shows that while tuition and room and board expenses have risen for all categories of colleges, financial aid has notably increased as well.
During what are already difficult economic times, students and families across the nation are also facing significant tuition hikes, and are in need of our support, said Congresswoman Matsui. We have passed a number of measures during this Congress to keep college affordable and help these families make one less difficult financial decision.
The American Opportunity Tax Credit, which Congresswoman Matsui supported as part of the American Recovery and Reinvestment Act, has been assisting students in Sacramento and across country. The Treasury Department estimates that 12.5 million students benefited from this tax credit in 2009 alone. Congresswoman Matsui also joined House Democrats in passing the Health Care and Education Reconciliation Act last year, which reformed federal financial aid and allocated $36 billion over 10 years to Pell Grants. During 2009-10, Pell Grants rose by $10 billion, and over $95 million went to 26,483 recipients in the Sacramento area.
Ensuring our students have the means to attend college is an investment in our country's future, and one that cannot be overlooked, added Congresswoman Matsui.
The achievements of the 111th Congress include enactment of the Recovery Act, the Health Care and Education Reconciliation Act of 2010. These new laws contain the following funds for higher education:
$36 billion over 10 years to increase Pell Grants;
$750 million to bolster college access and completion support for students;
$1.5 billion investment to make college loans more affordable;
$2.55 billion invested in historically black colleges and universities and minority-serving institutions;
$2 billion for community colleges to develop educational and career training programs; and
$200 million increase in work-study funds.
For more information about Congresswoman Matsui's work in the House of representatives to support Sacramento families, please visit www.matsui.house.gov