In a letter sent to Senators Edward Kennedy (D-MA) and Michael Enzi (R-WY), the leaders of the Senate education committee, NASFAA President and CEO Dr. Phil Day urged support for the Ensuring Continued Access to Student Loans Act of 2008 (H.R. 5715).

"This legislation is crucial because any disruption of the federal student loan program will have the greatest negative impact on low-income and disadvantaged students - the very students the financial aid programs are designed to help," Day wrote. "The safety nets contained in the bill will ensure there is no disruption in federal student loan borrowers’ access to credit."

Kennedy had introduced a similar bill (S. 2815) nearly four weeks ago to address the tightening credit markets affecting the availability of federal student loans, but it appears that the Senate is more likely to use the House version, which passed overwhelmingly nearly two weeks ago. The Bush Administration - as well as others in higher education - have been urging the Senate to take quick action on the bill so that federal agencies have enough time to implement its provisions before peak loan season.

Posted 04/29/08 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web Site questions or comments to Web@NASFAA.org.