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SENATE CONCURRENT RESOLUTION
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WHEREAS, In 1965, President Lyndon B. Johnson signed into law |
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the Higher Education Act establishing the Guaranteed Student Loan |
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Program; although this program has undergone many changes through |
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the years, including the adoption of a new name, the Federal Family |
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Education Loan Program, it has consistently served the State of |
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Texas as the most important method of delivering financial aid to |
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students and families; and |
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WHEREAS, The Texas Guaranteed Student Loan Corporation, |
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established as the state's guarantor in 1979, has delivered nearly |
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14 million loans to students and families at no cost to the state; |
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these loans, exceeding $63 billion, represent approximately |
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two-thirds of the direct financial aid awarded to Texas students |
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pursuing their educational goals; the Federal Family Education Loan |
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Program has not only provided loans but also created many jobs in |
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the state, and it has become a significant economic engine through |
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its focus on education completion and job creation; as the need for |
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an educated workforce has increased in Texas, this public-private |
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partnership has been at the forefront of education financing; and |
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WHEREAS, The not-for-profit and for-profit lenders in the |
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Federal Family Education Loan Program have led in educational |
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outreach efforts to the state's most disadvantaged populations |
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through programs that seek to encourage academic achievement, |
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promote financial literacy, and provide information on making |
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college affordable; such assistance has enabled more Texans to |
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fulfill their goals of achieving a better life, while enriching the |
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state in the process; and |
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WHEREAS, The Federal Family Education Loan Program ranks as |
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the most successful and popular education loan program in the state |
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and nation; in Texas, more than 94 percent of student loan dollars |
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are delivered through the program and over 85 percent of secondary |
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education institutions have chosen to participate in the program; |
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nationally, more than 81 percent of student loan dollars are |
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delivered through the program; and |
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WHEREAS, For over four decades, the Federal Family Education |
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Loan Program has promoted local participation in the education of |
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our citizens, and this successful partnership between government |
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and the private sector serves a vital function in delivering |
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financial aid to Texas citizens and making significant |
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contributions to our economy; now, therefore, be it |
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RESOLVED, That the 81st Legislature of the State of Texas |
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hereby respectfully urge the United States Congress to maintain the |
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Federal Family Education Loan Program and continue to refine and |
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improve this crucial public-private partnership; and, be it further |
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RESOLVED, That the Texas secretary of state forward official |
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copies of this resolution to the president of the United States, to |
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the speaker of the house of representatives and the president of the |
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senate of the United States Congress, and to all the members of the |
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Texas delegation to Congress with the request that this resolution |
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be officially entered in the Congressional Record as a memorial to |
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the Congress of the United States of America. |