Patrick, Dems Keep College In Reach

The following Guest Opinion appeared in the Bucks County Courier Times from Patrick Murphy yesterday.

Students and parents today face the harsh reality of rising costs. While students are going to class and working hard, far too many still worry about how to pay for their higher education.

Parents also face this challenge when their kids eagerly open their college acceptance letters. A college or technical degree is vitally important for a high paying job yet more expensive than ever.

In my case, I worked my way through Bucks County Community College, graduated from Kings College and then earned my law degree from Widener University. I worked long hours after class and received ROTC scholarships, but still worried about the debt I would face and how I would pay for it. Now, 16 years after I started, I am still paying off my debt.

More kids from Bucks County are enrolling in two- and four-year colleges and universities than ever before. Those students, unfortunately, are met with rising costs. They are graduating with more debt, while working harder than ever. Too often, they must rely on their parents to help pay back their college loans — further squeezing middle-class families. Worst of all, the cost of a college degree has become the No. 1 impediment to a higher education — preventing qualified students from attending in the first place.

As a former educator at the United States Military Academy at West Point, the issue of making sure young Americans are prepared for what lies ahead is personal for me. That's why I know we have to do whatever it takes so that our American workforce can continue to compete with workers across the globe.

Last week, I proudly voted for the College Cost Reduction Act of 2007. This bill passed the House with wide bi-partisan support. It will provide the single largest investment in higher education since the GI Bill — allowing more qualified students to go to college by cutting the financial burden on them and their families. The typical debt carried by a student at a four year college in Pennsylvania is nearly $14,000 and more than 211,000 students rely on need-based aid in Pennsylvania every year.

The College Cost Reduction Act boosts Pell Grants and cuts interest rates on college loans in half.

This rate cut will save students and their families thousands over the life of their loans. This legislation also provides upfront tuition assistance for excellent undergraduate students who agree to teach in public schools and loan forgiveness for college graduates who go into public service. Providing incentives for public service will help many in our area learn the value of giving back to our community and country and help them use their education to benefit others.

Just as making sure more kids go to college is an investment in the future, promising not to saddle future generations with our debt is just as important. That's why I am proud, as a fiscal conservative, to report that this bill is fiscally responsible. By eliminating exorbitant subsidies to lending companies, this bill costs taxpayers nothing and is not only fully paid-for, but even provides $750 million in federal deficit reduction. This is crucial considering our country carries $9 trillion of debt — with each of us owing $29,000. The interest alone costs our country about $21 billion per month.

Making college more affordable and preparing American students to excel has been a priority of mine since going to Washington. Within weeks of taking office in January, I supported another measure that boosted Pell Grants. That important increase — for which students and families have waited years — is now law. Another measure I support seeks to make college tuition permanently tax deductible. This would enable families to deduct up to $4,000 of post-secondary education expenses per year. These steps are just the beginning but they provide real solutions and hope for so many families working to give their children a brighter future.

By investing in our future, we can make the dream of a college education a reality for all Americans.

In the era of rapid globalization — where Bucks County students are competing, not just with kids from Ohio and New York, but going head to head with their peers from India and China — we need to give American students every advantage possible. By preparing more students to compete in this global marketplace we will maintain America's leadership in the world. We are increasing access to higher education and helping children to succeed in high-tech and specialized fields — making sure that their future is even brighter than ours.

To learn more about Patrick, click here.