| Ms. Robinson, With the national discourse dominated by healthcare reform, I wanted to bring to your attention a critical piece of education legislation that passed the House of Representatives with my strong support recently. The Student Aid and Fiscal Responsibility Act (H.R. 3221) will allow more students in Upstate New York to attend college while saving the taxpayer $87 billion over ten years by switching to the cheaper Direct Loan program. In addition to investing in college aid, this legislation will also direct $10 billion in savings back to the U.S. Treasury to help pay down the deficit, and provide a $40 billion increase in the Pell Grant Scholarship program. It will keep interest rates low and make loan application forms simpler to understand and complete, doing away with the burdensome paperwork that now makes applying for aid such a daunting task. In Upstate New York, we need to make sure our children can pursue higher education of all kinds without being limited by financial situations. This legislation will do exactly that. With 14 colleges and universities located in the 24th Congressional District, sending more students to local campuses will provide a major economic boost to the surrounding communities. The competitive grants program established in this bill will strengthen ties between community colleges and local employers by improving student training and career services, empowering students to obtain a degree and contribute to the local economy. Providing students with the tools they need to succeed is the surest path to building the highly-trained, innovative workforce communities in Upstate New York need to succeed in the 21st century.  | Watch Congressman Arcuri discuss the Student Aid and Fiscal Responsibility Act in a "One Minute" speech on the Floor of the House of Representatives.
|  | Listen to Congressman Arcuri's weekly radio address, where he discusses his vote in support of the Student Aid and Fiscal Responsibility Act (H.R. 3221)
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Highlights of The Student Aid and Fiscal Responsibility Act (H.R. 3221):
- Invests $40 billion to increase the maximum annual Pell Grant scholarship to $5,550 in 2010 and to $6,900 by 2019. This translates to more than $ 92.4 million for students in New York's 24th Congressional District.
- Starting in 2011, the scholarship will be linked to match rising costs-of-living by indexing it to the Consumer Price Index plus 1 percentage point, which increases both the award students are eligible for and the number of students eligible for an award. In New York's 24th Congressional District, 19,113 students will be eligible for a Pell Grant award in the 2010-2011 academic year.
- Provides grants to states to help community colleges finance new construction, modernization, renovation, and repair projects. Allows grant funds to be used to match private donations to a community college capital campaign. New York would receive nearly $135.5 million to help finance projects to community college facilities.
- Provides loan forgiveness for members of the military who are called up to duty in the middle of the academic year.
- Keeps interest rates low on need-based - or subsidized - federal student loans by making the interest rates on these loans variable beginning in 2012. These interest rates are currently set to jump from 3.4 percent to 6.8 percent in 2012.
- Makes it easier for families to apply for financial aid by simplifying the FAFSA form.
- Invests $3 billion in college access and completion support programs for students, such as the College Access Challenge Grant program, and will also fund innovative programs at states and institutions that focus on increasing financial literacy and helping retain and graduate students.
- Authorizes more than $4 billion for elementary and secondary school facility projects over the next two fiscal years, and ensures that school districts will receive funds for school modernization, renovation, and repairs that create healthier, safer, and more energy-efficient teaching and learning climates. Allocates the same percentage of funds to school districts that they receive under Part A of Title I of the Elementary and Secondary Education Act, except that it guarantees each such district a minimum of $5,000.
To find out if you or your child qualify for a federal Pell Grant visit: www.ed.gov/programs/fpg/index.html For additional information about federal grants, loans and work-study programs call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243 or 1-800-730-8913 or visit: www.studentaid.ed.gov. Sincerely,
MICHAEL ARCURI
Member of Congress
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