KENNEDY COMMENDS ADMINISTRATION’S SUPPORT OF STUDENT LOAN PROGRAM
WASHINGTON, DC— Today, Senator Edward M. Kennedy, Chairman of the Health, Education, Labor and Pensions Committee, released the following statement in response to the letter sent by Margaret Spellings, Secretary of Education, Henry M. Paulson, Secretary of the Treasurer, and Jim Nussle, Director of the Office of Management and Budget, stating the Administration’s support of the student loan program amidst the credit crisis. “I welcome the Administration’s support for prompt Senate action on our legislation to prevent the crisis in the credit markets from becoming a crisis for students and families already struggling to pay for college. Obviously, we can’t allow access to college and the American Dream to depend on quarterly earnings of the nation’s banks.”
