WASHINGTON – Today, Education and the Workforce Committee Chairwoman Virginia Foxx (R-NC) issued the following statement after introducing H.R. 6951, the College Cost Reduction Act, legislation that provides a comprehensive solution that will lower college costs for students and families:
“Democrats and Republicans agree that student loan debt in America has reached astronomical levels – the pursuits of students in postsecondary education have been undercut as a direct result. Without question, the root cause of this problem is the inflated cost of obtaining a college degree, and there’s considerable room for reforms. The College Cost Reduction Act is the vehicle through which much-needed accountability, transparency, and affordability measures can be both realized and implemented to the benefit of students and their families.”
Background
The College Cost and Reduction Act:
- Ensures clear, accessible, and personalized information about costs and return on investment are available to prospective students and families.
- Holds institutions financially responsible for overpriced degrees that leave students with unaffordable debt.
- Funds colleges based on student outcomes rather than excessive regulations that further increase costs to families.
