This Agression Will Not Stand (or more on the higher education amendment)

So the vote on Ben Nelson's amendment to the Higher Education Access Act didn't happen today, but will likely go down tomorrow. If any of the senators listed below are from your state, you've still got time to give them a call and ask them to vote Yes on the bill, and NO on the Nelson-Burr Amendment.

US PIRG has a new analysis of the amendment and why this is important:

The Nelson-Burr Amendment cuts $4.2 billion from need-based aid to low-income students over the next five years and gives the bulk of it to for-profit student lenders.

The Nelson-Burr amendment reduces aid for the neediest students by $290 per year, or nearly $1200 over their 4-year college career.

The amendment lowers the subsidy reduction for-profit lenders from .5 percent to .35 percent and pays for it by cutting $4.2 billion from the Promise Grant program.

The Nelson-Burr amendment takes grants away from low-income students and gives it back to banks including:

• $800 million to Sallie Mae over the next 5 years.
• $160 million to Nelnet over the next 5 years.

The Senate bill reduces less from private student lenders than both the President’s Fiscal Year 2008 budget and the House reconciliation bill. The Nelson-Burr amendment would cut back on subsidies even further, at the expense of the more than five million students who receive Pell Grants every year.

U.S. PIRG urges Senators to vote against the Nelson-Burr Amendment to S. 1762

$800 million to Sallie Mae, $160 million to NelNet. Meanwhile we're getting saddled with even more debt. This aggression will not stand. Call your Senator.