Hinojosa said, “It marks an historic change in health care for Americans and sets a landmark in higher education as the single largest investment in education since the G.I. Bill of WWII.
“This bill makes health care even more affordable for the middle class, lowers prescription drug costs for seniors by closing the ‘donut hole’ over time, and reduces the deficit even more than the original health bill. It will also allow children to stay on their parent’s health insurance until age 26.”
President Obama called out the name of Congressman Hinojosa as one of the members of Congress who most influenced the Student Aid and Fiscal Responsibility Act (SAFRA). Later after the signing, the president stood side by side with Congressman Hinojosa.
“What an honor and a privilege it has been to be a part of history, witnessing our president sign the reconciliation bill into law,” said Congressman Hinojosa. “As chairman of the Subcommittee on Higher Education, Lifelong Learning and Competitiveness, I worked closely with Education and Labor Chairman George Miller in making the Student Aid and Fiscal Responsibility Act a reality.”
The federal government already funds 88 percent of all federal student loan volume, between loans that are already lent to students directly through the government and an emergency aid program student lenders have relied on since the credit crisis in 2008, he added.