Video archive of the US Congress

House Proceeding on May 1st, 2008 :: 3:34:56 to 3:37:44
Total video length: 3 hours 40 minutes Stream Tools: Stream Overview | Edit Time

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3:34:46 to 3:34:56( Edit History Discussion )

students and their families. we did that by establishing the u.s. department of education as a temporary backstop to purchase loans and inject modest amounts of liquidity into the market to

Tim Holden

3:34:56 to 3:35:24( Edit History Discussion )

Tim Holden: ensure that lenders can make new loans in the coming school year. we offered new loan availability and flexibility and we called on the federal financial authorities to exercise their authority

Tim Holden

3:34:56 to 3:37:44( Edit History Discussion )
Speech By: Tim Holden

Tim Holden

3:35:24 to 3:35:40( Edit History Discussion )

Tim Holden: to stablize the market. i appreciate that the other chamber chose to move quickly on our bill rather than taking up a competing bill that would have slowed down this important assistance to students

Tim Holden

3:35:40 to 3:35:57( Edit History Discussion )

Tim Holden: and families. however, some important improvements were made as this bill moved through the other body and i want to highlight those today. in early 2005 and early 2006, congress approved

Tim Holden

3:35:57 to 3:36:08( Edit History Discussion )

Tim Holden: a budget reck coalition measure that created two new grant programs to help low-income students pursuing a college education. those student programs are the academic competitiveness grant and

Tim Holden

3:36:08 to 3:36:24( Edit History Discussion )

Tim Holden: the smart grant. these grant programs are meant to promote student academic achievement, particularly in fields that are vital to our continued competitiveness in a changing world. during the

Tim Holden

3:36:24 to 3:36:48( Edit History Discussion )

Tim Holden: committee deliberations on a comprehensive renewable of the higher education act, representative rob bishop took a leadership role in clarifying the role of states and not the federal government,

Tim Holden

3:36:48 to 3:37:00( Edit History Discussion )

Tim Holden: in establishing rigorous high school curricula. the purpose of the academic competitiveness grant was to pursue students preparing for college but it was never to you superstate and local responsibility

Tim Holden

3:37:00 to 3:37:17( Edit History Discussion )

Tim Holden: for establishing curricula. i'm pleased we are able to incorporate his proposed changes into the bill that is moving today. mr. speaker, i support this bill, but i would be remiss if i did not highlight

Tim Holden

3:37:17 to 3:37:32( Edit History Discussion )

Tim Holden: what i believe to be the root causes of the current difficulties in our financial markets. last year, federal support for the loan program was slashed, forcing loan providers to scale back

Tim Holden

3:37:32 to 3:37:44( Edit History Discussion )

Tim Holden: on benefits and re-evaluate their participation in the program. this year, disruption in the capital markets have reduced liquidity and shaken investor and consumer confidence. i appreciate the steps

Frank D. Lucas

3:37:44 to 3:38:00( Edit History Discussion )

Frank D. Lucas: taken in this bill to begin to stablize a program that has been badly shaken. i'm pleased that this bill contains no net cost to the american taxpayer and that it does not force colleges and

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