WASHINGTON, D.C. -- Representative George Miller (D-CA), the senior Democrat on the House education committee, issued this statement in response to new higher education legislation introduced by House Republicans today:

“Even as the price tag for a college education soars, Congressional Republicans have once again taken steps to make college even more expensive for low- and middle-income students. Their new legislation is clearly oriented toward big lending institutions and their hefty profits, not students and their thin wallets.

“College tuition is rising by double digit rates, yet not only does the Republican bill fail to adequately address the tuition problem, it also fails to increase the maximum Pell Grant award, which is now worth $500 less, in real terms, than it was 30 years ago.

“In fact, the Republican bill raises the cost of borrowing to pay for college by eliminating the low-fixed-rate consolidation benefit. Eliminating this benefit will force the typical student to pay $5,500 more in interest costs on college loans.

“Meanwhile, though the Republicans claim that their legislation will reign in excessive profits earned by banks that make student loans, it in fact leaves a loophole that could cost federal taxpayers millions of dollars each year.

“In addition, the Republican bill will raise the interest rate cap on student loans -- a cap which they agreed to just a few years ago, and which will raise interest rates on student loans and push hundreds of dollars more in additional costs onto student borrowers.

“Instead of making college even more expensive for low- and middle-income students, we need to boost college opportunities by increasing grant aid and lowering the cost of college loans. Unfortunately, the Republican Congress has followed the lead of President Bush, who has broken his promise to Americans to raise the maximum Pell Grant to $5,100, and instead has frozen or cut the maximum Pell Grant for three straight years.

“President Bush and the Republican Congress have made their priorities clear by passing trillion-dollar tax cuts for the wealthy and handing out huge give-aways to banks at the expense of students and their families struggling to afford a higher education.”