Concord, NH - Monday, September 21, Congresswoman Carol Shea-Porter (D-NH) visited
with the 200 employees of the NHHEAF Network Organizations to address last week's
passing of the Student Aid and Fiscal Responsibility Act (SAFRA) by the US House of
Representatives. Representative Shea-Porter opened the meeting saying, "I feel
absolutely elated about this bill..."
SAFRA was introduced as a measure to help reduce the cost of college for students and
families across the country. The bill that passed the House eliminates the Federal Family
Education Loan Program (FFELP), the government subsidized student loan option
currently available to students, and includes designations for improvements on
community colleges, an increase to the Pell Grant that is reserved for the neediest
families and simplification of the Free Application for Federal Student Aid (FAFSA) form
that many families struggle to complete each year. The Congresswoman shared a story
about her own need to borrow loans in order to pay undergraduate tuition and how
important it was to her success to have had someone teach her about the importance
of responsible student loan repayment.
Congresswoman Shea-Porter has been a tireless advocate for a stipulation to be
included in SAFRA that allowed for nonprofits such as NHHEAF to be able to retain
servicing for student loans; supporting the numerous college planning programs NHHEAF
makes available to students and parents in NH. Reassuring the crowd of almost 200,
Shea-Porter said about the loan servicing provision in SAFRA, "You'll continue doing the
great work you've been doing and NH families will benefit from your wisdom, expertise
and knowledge as they try to navigate through a system that is sometimes very
complicated."
"I know NHHEAF has worked very closely with NH families through the years and you have
made all the difference in these kids' lives, in these families' lives," stated Shea-Porter
during the meeting. "We did not want to break that relationship." She recognized that
the work NHHEAF is doing on behalf of students is so meaningful. "You explain to families
what it (borrowing) means and what the obligations will be so that they don't run into
default." She concluded by taking employee questions and encouraging staff that
"there is reason to be hopeful even during this difficult time."
The main component of SAFRA that affects the NHHEAF Network Organizations is the
elimination of the Federal Family Education Loan Program (FFELP) that NHHEAF has been
administering in the State of New Hampshire for over four decades. Now that SAFRA has
passed the House, the NHHEAF Network Organizations plans to work closely with the
Senate to ensure that nonprofits maintain a role in the student loan industry and the free
college planning resources and financial literacy programs are not taken away from the
students and parents in NH.
The NHHEAF Network Organizations are comprised of four 501(c)(3) nonprofit organizations that provide
students and families with the resources and funding to pursue higher education aspirations. Funds generated
by the Organizations make their charitable mission possible as student loan earnings are reinvested in programs
and services that benefit citizens of New Hampshire. For more information, visit www.nhheaf.org.
Posted 09/23/09 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.
