Shelley Berkley Votes To Stop Student Loans From Doubling
By Ending Taxpayer Giveaways To Big Oil Companies
Meanwhile, Sen. Dean Heller Supports Rolling Back Women’s Health Care –
Like Preventative Cancer Screenings – Instead of Taking On
His Big Oil and Wall Street Backers
Las Vegas – While incumbent Senator Dean Heller continues to protect taxpayer giveaways to Big Oil companies, Shelley Berkley today voted to stop the student loan rate from doubling on Nevada middle-class families by ending these same unnecessary handouts to the top 5 Big Oil companies.
And what is Senator Dean Heller’s solution to preventing student loan rates from doubling? Heller voted to roll back women’s health care options – including routine preventative examinations such as breast cancer screenings – rather than ending taxpayer subsidies to his Big Oil backers.
“As the first person in my family to go to college, I know firsthand how important affordable education is for middle-class families. That’s why I was proud to support a plan today that prevents student loan rates from doubling on Nevada middle-class families by ending huge taxpayer subsidies to Big Oil companies,” said U.S. Senate candidate Shelley Berkley. “Unfortunately, my opponent Senator Dean Heller wants to roll back health care options for women, such as preventative breast cancer screenings, instead of taking on his Big Oil and Wall Street backers.”
In 2007, interest rates on need-based student loans (subsidized Stafford Loans) were cut from 6.8% in the 2006-2007 academic year to 3.4% in the 2011-2012 academic year. Fifteen million students benefitted from these lower rates. However, if Congress doesn’t act, these reduced rates are set to expire on July 1st of this year.
The Impact in Nevada
If the student loan interest rates were to rise in Nevada, on average, students will have to pay $982 more over the life of their loan for one year in borrowing. LINK
- Carson City – 65
- Elko – 409
- Henderson – 2,761
- Incline Village – 586
- Las Vegas – 13,700
- Lincoln -1,074
- Reno – 8,716
- Sparks – 505
- Total – 27,816
Average Debt at Graduation for Nevada Students: $16,622
Proportion of Students in Nevada With Debt: 39% LINK
Dean Heller’s Anti-Middle Class Record
Republican Senator Dean Heller has a poor record on higher education. Instead of helping students and middle-class Nevada families obtain access to an affordable higher education, Republicans like Dean Heller have consistently sought to cut funding for education, including student aid and Pell Grants. The devastating cuts that Dean Heller supports puts the future of our state at jeopardy as fewer Nevadans would be able to obtain the education and training they need to compete in a 21st Century economy.
During the 2009-2010 academic year, the percentage students at the following Nevada schools received Pell Grant assistance to help pay for college:
- College of Southern Nevada – 16%
- Great Basin College – 13%
- Nevada State College – 16%
- UNLV – 24%
- UNR – 21%
- Western Nevada College – 22%
- Sierra Nevada College – 31%
- University of Southern Nevada – 26%
Heller Voted To Cut The Average Nevada Undergraduate Receiving Pell Grants’ Assistance By More Than $600. In February 2011, Heller voted for the Republican Continuing Resolution. Under H.R.1, the average Nevada undergraduate with Pell college tuition assistance would see their assistance cut by more than $600. [HR 1, Vote 147, 2/19/11; DPCC fact sheet]
Heller Voted Against Increasing Pell Grants Funding By $39 Million. In February 2011, Heller voted against an amendment that would have increased funds for federal Pell Grants by $39 million, offset by a reduction in funds available for Department of Education Program Administration. The amendment was not adopted 186-238. [CQ Floor Votes; HR 1, Vote #146, 2/19/11]
Senate Republican Student Loan Bill, Like House GOP Bill, Would Cut Funds From Preventative Health Fund. In May 2012 CNN wrote, “The fight over a potential doubling of student loan interest rates this summer hits the Senate floor Tuesday with Republicans promising to block a White House-backed plan unless Democrats allow a vote on a GOP alternative. Interest rates on federal student loans are scheduled to rise to 6.8% from the current 3.4% in July unless Congress acts. But Democrats and Republicans disagree over how to offset the $6 billion it would cost to keep the rates down. Democrats want to eliminate a tax break for some corporations, while Republicans want to pull funds from a preventative health care fund set up under the health reform law.” [CNN, 5/8/12]
House GOP Student Loan Bill Would Cut $17 Prevention And Public Health Fund “Whose Projects Include Breast Cancer Screening, Childhood Immunizations, Research And Wellness Education.” In April 2012 the Associated Press wrote, “The House GOP bill would cut a $17 billion prevention and public health fund whose projects include breast cancer screening, childhood immunizations, research and wellness education.” [Associated Press, 4/26/12]
Office Of Budget And Management: House GOP Student Loan Bill Would Cut Program That “Would Provide For Hundreds Of Thousands Of Screenings For Breast And Cervical Cancer.”In April 2012 ABC News wrote, “In a statement released Friday, the OMB said the GOP version of the bill includes ‘an attempt to repeal the Prevention and Public Health Fund, created to help prevent disease, detect it early, and manage conditions before they become severe. Women, in particular, will benefit from this Prevention Fund, which would provide for hundreds of thousands of screenings for breast and cervical cancer. This is a politically-motivated proposal and not the serious response.’” [ABC News, 4/27/12]
Shelley Berkley’s Record of Standing up For Nevada Middle-Class Families
Shelley Berkley has been a leader on keeping college affordable for middle-class Nevada families, having co-sponsored a bill earlier this year to extend the student loan rate reduction by closing tax loopholes for big oil and gas companies, and voting to protect Pell Grants. As a mother, and the first person in her family to go to college, Shelley knows first-hand the invaluable role affordable education plays in keeping Nevada’s middle class families strong.
Berkley Co-Sponsored Bill To Extend Student Loan Rate Reduction. In 2012, Berkley co-sponsored HR 4816, which would amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans. The bill would be funded by closing tax loopholes for big oil and gas companies. [HR 4816, 4/25/12]
Berkley Voted To Consider Stop The Rate Hike Act. Berkley voted to bring the House Democratic student loan bill, Stop the Rate Hike Act, H.R. 4816, to the House floor for consideration. Republicans, however, voted to block the House from even debating this measure. [H RES 691, Vote #389, 6/20/12; Congressional Record.
Berkley Voted Against Cutting $600 In Pell Grant Assistance For Average Nevada Undergraduate. In 2011, Berkley voted against the Republican continuing resolution. Under H.R.1, the average Nevada undergraduate with Pell college tuition assistance will see their assistance cut by almost $600. The measure passed 235-189. [HR 1, Vote #147, 2/19/11; Democratic Policy and Communications Center]
Berkley Voted To Protect Pell Grants from $39 Million Cut. In 2011, Berkley voted for an amendment that would have increased funds for Federal Pell Grants by $39 million, offset by a reduction in funds available for Department of Education Program Administration. The amendment failed to be adopted 186-238. [HR 1, Vote #146, 2/19/11]
Berkley Voted For $4.95 Billion For Pell Grants. In 2010, Berkley voted for a portion of H.R. 4899, the Supplemental Appropriations Bill, which included an “amendment that would appropriate…$4.95 billion for Pell grants.” The funding increase was offset through “$11.7 billion in rescissions from programs that no longer require the funding and $4.7 billion in expected savings from changes to mandatory programs.” The House agreed to the motion by a vote of 239-182. [H.R. 4899, Vote #430, 7/1/10]
Berkley Voted For Higher Education Reauthorization, Which Would Increase Pell Grant To $8,000 Per Year. In 2008, Berkley voted to reauthorize the Higher Education Act of 1965 through Fiscal Year 2012. According to Congressional Quarterly, the legislation “would reauthorize the Higher Education Act through fiscal 2012. The bill would increase the maximum Pell grant to $8,000 per year by the 2014-15 academic year. It would bar lenders from giving schools financial perks in order to get on a ‘preferred lender list.’ It also would penalize states that cut funding for institutions of higher education by withholding some federal funds if the state’s funding for such institutions falls below the average amount allocated by the state over the last five academic years. It would establish a new loan forgiveness program, providing up to $2,000 a year for five years for individuals such as nurses, early childhood educators and librarians serving in high-need areas.” The House passed the legislation by a vote of 380-49. [H.R. 4137, Vote #544, 7/31/08]
Berkley Voted Against Pell Grant Award Cuts. In 2003, Berkley voted against a budget resolution that provided for $1.3 trillion in tax cuts over ten years, while cutting programs for children and public education by $38 billion over ten years below the amount needed to maintain service levels. It provided virtually no increase for education programs overall and cut funding for No Child Left Behind programs by $1 billion (from $23.8 billion to $22.8 billion). In addition, the House Budget eliminated 46 education programs (such as Rural Education, the National Board for Professional Teaching Standards, and Preparing Tomorrow’s Teachers to Use Technology), cut the after school program by 40 percent (or $400 million) and reduced the maximum Pell Grant award (from $4,050 to $4,000). The budget passed 215-212. [HCR 95, Vote #82, 3/20/03]