RAHALL REPORT: New Report Highlights Need to Make College More Affordable
From the desk of U.S. Rep. Nick Rahall (D-WV)Representing West Virginia's 3rd District
Washington, DC (HNN) -- Recently, I had the opportunity to meet with students at Marshall University and talk to them about the advancement we are making in job creation-advancements that will benefit them once they get their diplomas. I always enjoy these opportunities to talk with the future leaders of our great State, and am consistently impressed with the motivation the drive so many of them demonstrate. They are not only meeting their responsibilities, they are exceeding them.
Unfortunately, these young people, who should be praised for their commitment to furthering their educations, are instead being penalized by skyrocketing tuition costs and bad public policy.
According to a new report from the College Board, headed by former W.Va. Gov. Gaston Caperton, tuition and fees for students at four-year public colleges have risen 41 percent above inflation since 2001. The same report also shows that the costs of tuition and fees at four-year colleges have continued to outpace inflation in the last year.
In addition, the report shows that students are increasingly relying on more loans to pay for college than on grant aid, like scholarships. In the 2005-2006 school year, grant aid accounted for only 42 percent of total college aid-the lowest share ever. The average typical borrower in West Virginia is graduating from college with $17,607 in debt.
And as the price of college increases, so does the need to get a degree. Today, six out of every 10 jobs require some postsecondary education and training. Furthermore, today's college graduates earn more than $1 million more over their lifetimes than those without college degrees.
This new information highlights the urgent need for Congress to enact proposals that would make college more affordable and accessible. But instead of working to find solutions for West Virginia families, the Republican Leadership in Congress are putting the college dream out of reach for many students. Earlier this year, the Republican Congress enacted a Raid on Student Aid, slashing student aid programs by a total of $12 billion. Also under Republican Leadership, interest rates on new college loans have jumped by almost 2 percentage points.
What does all of this mean for West Virginia students and their families? It means we are facing a misery tax that we can ill afford.
I, along with 61 of my Democratic colleagues, have co-sponsored a bill in the House of Representatives that would make college more affordable for West Virginians. The Reverse The Raid On Student Aid Act, which calls for expanding and simplifying tax credits for college tuition, expanding Pell Grants and cutting interest rates in half on students loans, would save the average West Virginia student $5,661 over the lifetime of their loans.
Benjamin Franklin once said, "An investment in education always pays the best interest." It's my hope that my colleagues will join me in support of what is quite obviously an important investment in both the quality of life of our children and our ability as a Nation to remain globally competitive.
I will continue my efforts to make higher education affordable for all Americans. It is my hope that the next time I get the opportunity to meet with the students of Marshall University, I will be able to share some good news with them. They, and all college students in West Virginia, are the key to our future and they should be praised, not penalized.