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