ASLP Commends Congress For Passing Extension of Emergency Student Loan Funding Law

WASHINGTON – Kevin Bruns, executive director of America's Student Loan Providers, released the following statement in response to U.S. House and Senate approval of a bill extending the Ensuring Continued Access to Student Loans Act of 2008 for one year:

“The student loan community commends the House and the Senate for their quick action in extending the Ensuring Continued Access to Student Loans Act of 2008 for an additional year.  Students and parents will breathe a sigh of relief when the President signs the bill.

“With credit markets still in great turmoil, an extension is the prudent thing to do.  Steps were needed to help ensure families and schools that access to federal student loans will be uninterrupted through the 2009-10 academic year.  With this extension, families should be able to make college plans and decisions based on what’s best for their children and their educational aspirations, rather than on whether student loan funding will be available.”  

###

America’s Student Loan Providers represents more than 80 of the nation’s leading private, nonprofit and state-based education and financial organizations that provide federally guaranteed student loans through the Federal Family Education Loan Program. By leveraging private financial markets and competing for the right to lend to students, ASLP members offer low-cost loans and superior levels of service to millions of students and most of the 5,000 postsecondary institutions that participate in FFELP. More information is available at www.aslp.us or call 202.721.1190