Denver, Colorado - Colorado Democrats in Congress took another major step in their first 100 hours agenda, this time to cut interest rates on student loans in half and help more Americans go to college. The Democratically controlled Congress has already passed several historic pieces of legislation as part of their first 100 hours agenda including bills to reform ethics rules in Congress and end the Republican culture of corruption, to implement the 9-11 Commission recommendations, and to raise the minimum wage, among others.

The bill approved would make college more accessible and affordable by cutting the interest rates on subsidized student loans in half - from the current 6.8 percent to 3.4 percent. Once signed by the President, the law will significantly cut the student debt burden of about 5 million students. Here in Colorado, students would save an average of $2,200 from the Democratic proposal to cut student loan interest rates. [US PIRG, 12/2007] In-state students at public colleges have seen their tuition and fees increase by 41 percent over the past five years, and student debt "has more than doubled" since Republicans took control of Congress. [www.speaker.gov]

"Democrats made a commitment to help more Americans reach their dreams by going to college," said Colorado Democratic Party Chair, Pat Waak, "this week that promise was kept. The new Democratic Congress is off to a great start in passing key bills that will directly improve the lives of Coloradans. We urge Wayne Allard in the Senate and President Bush to support this critical move for America's students, and for America's future."