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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 (FFELP), it has consistently served the |
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State of Texas as the most important method of delivering financial |
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aid to 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; FFELP has not only provided loans |
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but also created many jobs in the state, and it has become a |
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significant economic engine through its focus on education |
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completion and job creation; as the need for an educated workforce |
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has increased in Texas, this public-private partnership has been at |
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the forefront of education financing; and |
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WHEREAS, The not-for-profit and for-profit lenders in FFELP |
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have led in educational outreach efforts to the state's most |
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disadvantaged populations through programs that seek to encourage |
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academic achievement, promote financial literacy, and provide |
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information on making college affordable; such assistance has |
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enabled more Texans to fulfill their goals of achieving a better |
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life, while enriching the state in the process; and |
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WHEREAS, FFELP ranks as the most successful and popular |
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education loan program in the state and nation; in Texas, more than |
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94 percent of student loan dollars are delivered through FFELP and |
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over 85 percent of secondary education institutions have chosen to |
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participate in the program; nationally, more than 81 percent of |
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student loan dollars are delivered through FFELP; 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. |