[0] HEARING OF THE HOUSE EDUCATION AND LABOR COMMITTEE SUBJECT: "INCREASING STUDENT AID THROUGH LOAN REFORM" CHAIRED BY: REPRESENTATIVE GEORGE MILLER (D-CA) WITNESSES: CHRISTOPHER CHAPMAN, PRESIDENT AND CEO, ACCESS GROUP; RENE DROUIN, PRESIDENT AND CEO, NEW HAMPSHIRE HIGHER EDUCATION ASSISTANCE FOUNDATION; ANNA GRISWOLD, ASSISTANT VICE PRESIDENT, UNDERGRADUATE EDUCATION AND EXECUTIVE DIRECTOR,... (Part 13).
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Article Excerpt
HEARING OF THE HOUSE EDUCATION AND LABOR COMMITTEE SUBJECT: "INCREASING STUDENT AID THROUGH LOAN REFORM" CHAIRED BY: REPRESENTATIVE GEORGE MILLER (D-CA) WITNESSES: CHRISTOPHER CHAPMAN, PRESIDENT AND CEO, ACCESS GROUP; RENE DROUIN, PRESIDENT AND CEO, NEW HAMPSHIRE HIGHER EDUCATION ASSISTANCE FOUNDATION; ANNA GRISWOLD, ASSISTANT VICE PRESIDENT, UNDERGRADUATE EDUCATION AND EXECUTIVE DIRECTOR, STUDENT AID, PENNSYLVANIA STATE UNIVERSITY; CHARLES REED, CHANCELLOR, CALIFORNIA STATE UNIVERSITY; JOHN REMONDI, VICE CHAIRMAN AND CFO, SALLIE MAE; DEPUTY UNDERSECRETARY OF ENERGY ROBERT SHIREMAN; RICHARD VEDDER, PROFESSOR OF ECONOMICS, OHIO UNIVERSITY LOCATION: 2175 RAYBURN HOUSE OFFICE BUILDING, WASHINGTON, D.C. TIME: 10:00 A.M. EDT DATE: THURSDAY, MAY 21, 2009(Part 13)
In 1974 when the Pell Grant began, the maximum award was $1,400. Is it your contention that had that award stayed at $1,400 or some reasonable variant thereof, that tuitions would not have increased?
MR. VEDDER: It's my contention if we had not put in the Pell Grant or the Student Loan Program we would have as many students enrolled in American universities today as in fact -- REP. BISHOP: So if I may interrupt, so if you were constructing a student financial aid portfolio now, federal, state, institutional, what would it look like from your vantage point? Would you have student aid?
MR. VEDDER: If I were the czar which, thank God I'm not -- REP. BISHOP: I'm...
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