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EDUCATION FINANCE COUNCIL ISSUES STATEMENT REGARDING REPORT TITLED 'MAKING COLLEGE AFFORDABLE AGAIN'

 WASHINGTON, Feb. 3 /PRNewswire/ -- The Education Finance Council issued the following statement on the report "Making College Affordable Again":
 The Education Finance Council applauds the efforts of the National Commission on Responsibilities for Financing Postsecondary Education in preparing the comprehensive report "Making Colleges Affordable Again."
 This report offers a number of constructive ideas aimed at brining the ever-rising costs of a college education under control and widening access to higher education.
 However, the report fails to emphasize the dramatic improvements delivered to students in last year's reauthorization of the Higher Education Act. Amendments to the act moved America much closer to the dream of universal access to higher education. Significant administrative costs associated with the "direct lending" concept recommended in the report will be transferred to colleges and universities and create upward pressure on tuition while reducing a student's financial options at the same time.
 Additionally, although the goals of the commission are commendable, it is unrealistic to expect the federal government to authorize the $7 billion in new spending required to implement the program outlined in this report.
 The Education Finance Council believes that the best approach to the complex challenge of keeping college affordable is well stated within the report: "By working as partners, diverse groups can achieve much greater gains than having each sector work independently."
 The Education Finance Council is a non-profit member association dedicated to the pursuit of national goals to make higher education affordable, further educational excellence and increase aid available to students and families. The council is comprised of tax-exempt state student loan secondary market organizations throughout the United States.
 -0- 2/3/93
 /CONTACT: Dr. Sherrill Cleland of the Education Finance Council, 202-289-3910/


CO: Education Finance Council ST: District of Columbia IN: SU:

TW -- DC003 -- 2284 02/03/93 10:03 EST
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Date:Feb 3, 1993
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