HACU Applauds the Signing of HR 2669 -- September 26, 2007

President George W. Bush is scheduled to sign H.R. 2669, the College Cost Reduction and Access Act, on Thursday, September 27, 2007. The Hispanic Association of Colleges and Universities (HACU) and its more than 450 member colleges and universities, including most of the nation's 270 Hispanic-Serving Institutions (HSIs), applaud the President for signing this landmark legislation.

Today Antonio Flores, President and CEO of HACU, underscored the need to increase the representation of Latinos in STEM (science, technology, engineering, and mathematics) areas. "Not only does this legislation provide long-needed increases in the Pell Grant program, but it also makes historic investments in science education and opens the doors of opportunity to many Latino and minority students who can contribute to our nation's current and future scientific and technological innovation and advancement," said Flores.

H.R. 2669 will:

• Provide $20 billion to boost financial assistance to low-income and middle income students; increase the maximum award to Pell Grant recipients to $4,800 in 2008 and to $5,400 by 2012; and cut student loan interest rates in half in five years.
• Make landmark investments in Hispanic-Serving Institutions by providing $200 million in mandatory spending to HSIs to increase the representation of Hispanic and other minority undergraduate students pursuing STEM (science, technology, engineering, and mathematics) areas.
• Provide $228 million for Upward Bound, a college prep program proven to increase college participation rates for Latinos and other minority students.

The nation's 270 Hispanic-Serving Institutions (both 2- and 4-year institutions) enroll half of all Latinos attending college today.  About 37 percent of Hispanic students nationally receive Pell Grants each year. About 25 percent of Hispanic students take out need-based student loans each year.

HACU recognizes Rep. George Miller, Senator Edward Kennedy, the House Education and Labor Committee, and the Senate Health, Education, Labor, and Pensions Committee for their exemplary leadership on this legislation.

HACU particularly thanks Rep. Rubén Hinojosa and other distinguished members of the Congressional Hispanic Caucus, the Congressional Black Caucus, and the Congressional Pacific American Caucus for championing the cause of minority and low-income students.

HACU urges its membership to contact the White House, and their Representatives and Senators to thank them for their bold leadership in increasing federal resources to HSIs to ensure Hispanic success in higher education.

Please contact HACU's Washington, D.C., offices at (202) 833-8361 for any additional information or assistance. 

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HACU Member Advisories are a service of the Hispanic Association of Colleges and Universities.