FOR IMMEDIATE RELEASE
Thursday, September 17, 2009
CONTACTS:
Joye Griffin
703-205-3480
joye.griffin@uncf.org
STATEMENT OF DR MICHAEL L. LOMAX ON HOUSE PASSAGE OF THE STUDENT AID AND FISCAL RESPONSIBILITY ACT OF 2009
FAIRFAX (September 17, 2009) -- As the nation's largest minority education organization, UNCF praises House passage of the Student Loan and Fiscal Responsibility Act of 2009. UNCF applauds the work of Chairman Miller and other members of the Committee and the staff for taking bold steps to ensure college affordability and long-term and robust engagement of historically black colleges and universities (HBCUs) and other minority-serving institutions for many years to come.
The $85 million the House has designated annually for HBCUs is particularly noteworthy, and other mandatory funding for Tribal and Hispanic populations will benefit our nation as we work to meet the demands associated with global competitiveness and changing demographics. We thank the Congressional Black Caucus and the Chairman for their work on these measures.
We applaud the unprecedented increases in student aid, particularly the Pell Grant and the Perkins Loan programs. By ensuring that all new federal loans will be processed through the Direct Student Loan program, the bill is expected to generate $87 billion in savings over the next ten years. The savings will be reinvested in worthy projects that support increasing the number of students who enroll and graduate from college.
This bill makes the investments needed to rebuild our economy and place our nation in a position to regain world leadership in the percentage of college graduates by 2020. This is President Obama's goal and it is one of our nation's top priorities.
About UNCF
UNCF--the United Negro College Fund--is the nation's largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students' education and development through scholarships and other programs, strengthens its 39 member colleges and universities, and advocates for the importance of minority education. UNCF institutions and other historically black colleges and universities are highly effective, awarding 18 percent of African American baccalaureate degrees. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 60,000 students at over 900 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized motto, "A mind is a terrible thing to waste."® Learn more at www.UNCF.org.
