AAMC and 44 Other Groups
"Cannot Support" Higher Ed Bill
May 28, 2004 - The AAMC and 44 other higher education
groups May 26 signed a letter
organized by the American Council on Education (ACE) that
offers the community's observations on H.R.
4283, the "College Access and Opportunity Act of
2004." The letter, addressed to House Education and the
Workforce Committee Chairman John Boehner (R-Ohio) and Subcommittee
on 21st Century Competitiveness Chairman Howard "Buck"
McKeon (R-Calif.), applauds the legislators' efforts and notes
many positive features of the bill including the reduction
of origination fees and small increases in student loan limits.
However, the letter also states that the bill will "alter
the basic relationship between the federal government and
institutions of higher education" and therefore the groups
determined that they "cannot support" the bill in
its current form.
The letter includes 16 pages of comments and suggested changes
to the legislation, focusing primarily on the increased regulatory
and reporting burdens imposed by the bill, the impact on accreditation
and transfer of credit policies, and the protection of rights.
The letter supports continuing with a variable rate for Stafford
loans, but recommends capping the rate at 6.8 percent, rather
than the 8.25 percent proposed in the bill. Under current
law, all Stafford loans will move to a fixed 6.8 percent on
July 1, 2006. The letter does not make specific recommendations
regarding interest rates for consolidation loans, but notes
that some associations have proposed that the consolidation
interest rate also be capped at 6.8 percent.
Information:
Jonathan Fishburn, Director, Research, Education and Veterans' Legislative Affairs
AAMC Government Relations
jfishburn@aamc.org
(202) 828-0525
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