February 19, 1992 EXTENSIONS OF REMARKS 2601 EXTENSION OF REMARKS INVESTING TO MAKE THE FUTURE without skills in reading comprehension, these dual incomes are barely sufficient to WORK: REAUTHORIZATION OF mathematics and problem solving, without maintain their current standard of living. THE HIGHER EDUCATION ACT the habits and attitudes that make them re­ A recent Gallup poll found that 93 percent liable employees and without specific skills related to available jobs. While 40 percent of of the American public believes that having HON. MATillEW G. MARTINEZ today's jobs are in low skill occupations, a college degree is important in order to get only 27 percent will fall into that category in a job or to advance in one's career. At the OF CALIFORNIA same time, 87 percent of the American public IN THE HOUSE OF REPRESENTATIVES the year 2000. At the same time, jobs in high skill occupations will rise from 24 to 41 per­ agrees with the statement: "College costs Wednesday, February 19, 1992 cent of the workforce. are rising at a rate which will put college Mr. MARTINEZ. Mr. Speaker, attending high Looking at new jobs, more than half of the out of reach of most people." And, 74 percent of the public agrees with the statement: "I school was once thought a luxury; today, it is new jobs created between now and the year 2000 will require some education beyond high would be able to afford college costs at this mandatory. In today's competitive world of school. The median years of education re­ time, only with low interest loans or high skills or low wages-where cars now quired by the new jobs will be 13.5 years, a grants." It is, therefore, not surprising that have more computing power than the first year and a half beyond high school gradua­ 90 percent of the public supports grants to lunar lander-reserving higher education to a tion. In the 1990s, it is estimated that jobs low income students and 93 percent support few is a prospect that America simply cannot requiring college degrees will grow 1.5 per­ low-interest loans to middle income stu­ afford. Too many American families are finding cent per year while those requiring only high dents. that the cost of education is putting college out school diplomas will grow 0.6 percent per year, less than half As much. Thus, some aca­ Since the Federal government provides 75 of reach. demic/technical education beyond high percent of the student financial aid from all America must invest in education, or be left school, if not a four-year undergraduate edu­ sources, we must look to changes in the Fed­ behind. Jefferson's Northwest Ordinance cation, is essential for the workers of the fu­ eral student aid programs to respond to the schools, Lincoln's land grant colleges, Tru­ ture, particularly in the high wage, high need for increased grants and low-interest man's GI bill education benefits, and John­ skill jobs at the cutting edge of economic loans to students. son's student aid programs invested in edu­ growth and productivity. H.R. 3553, the "Higher Education Amend­ cation. H.R. 3553, sustains our great Amer­ The job market provides an increasing col­ ments of 1992" provides this response. It lege wage premium. The average pay of ican heritage by pragmatically reforming and would lower the financial barriers to higher expanding access to the quality higher edu­ entry-level workers with a four-year or ad­ vanced college degree rose from one third education for students from working and cation needed to make the future work. more than the pay of workers with only a middle-income families and open the doors of Education remains America's best invest­ high school diploma in 1975 to 80 percent educational opportunity for millions of stu­ ment, transforming lives as well as economies. more in 1988. A recent study estimates that dents. This bill, which has been ordered re­ A recent study finds the net present value of the value of the increased tax revenue to the ported by the Education and Labor Commit­ each dollar invested in student aid was $4.30 Federal Government for each dollar of stu­ tee and which awaits floor action, would sig­ for the high school class of 1980. This result dent aid is $4.30. Estimates for the return in nificantly expand eligibility for student fi­ is not new: Investment in the GI bill education increased Federal taxes for each dollar pro­ nancial aid (in part by eliminating consider­ benefits after World War II returned between vided by the post-World War II G.I. bill range ation of the family home or farm in deter­ from $5 to $12.50. mining eligibility for aid). In specific, enact­ $5 and $12.50 for each dollar invested-and It is clear that those in the education pipe­ ing H.R. 3553 would ensure that: built the foundations for our modern American line are increasingly from disadvantaged, In the first year, 3.1 million students would economy. International studies show education low-income, minority and limited-English either be newly eligible to borrow under the among the most powerful generators of growth speaking backgrounds. In the 1990's, the low-interest Guaranteed Student Loan pro­ and development-and its significance is white non-Hispanic college-age population will decrease by 18 percent while the minor­ gram or would be eligible to borrow an in­ growing. creased amount; Congressman WILLIAM FORD, chairman of ity college-age population increases by 11 percent. The fastest growing groups in the 1. 7 million of these borrowers would be the Committee on Education and Labor, has education pipeline are those from back­ authored legislation which reauthorizes the from middle-income families (incomes above grounds where they are least likely to pur­ $30,000); Higher Education Act and takes necessary sue the education beyond high school which steps to meet the challenge of investing to they need to fill the jobs of tomorrow and 6 million families of students would be able make the future work. I commend to my col­ which the nation needs in order for them to to borrow increased amounts under the leagues his insightful statement on "Rebuild­ be the foundation of the nation's wealth. PLUS (Parent Loans to Undergraduate Stu­ dents) program; ing the Economy Through Education": In addition, working and middle-income families, the traditional source of reliable REBUILDING THE ECONOMY THROUGH Well over half of these families would be and productive workers, are seeing the middle income; EDUCATION dream of higher education for their children (By Hon. William D. Ford, chairman, slip away. In the last decade those with in­ In the first year, 5 million students would Committee on Education and Labor) comes below the top 20 percent saw their in­ either be newly eligible to receive a Pell With the end of the cold war and the col­ comes either stagnate or decline in inflation­ Grant or would be eligible for an increased lapse of the Soviet Empire, the national adjusted dollars. Meanwhile costs at public grant; and strength and status of the United States as a and private colleges have increased from two 1.1 million of these Pell Grant recipients great power now depends on our ability to to three times faster than the growth in me­ would be from middle-income families. compete economically rather than mili­ dian family income. For example, an 18 to 24 tarily. The productivity and performance of year old from a family with an income be­ A recent Washington Post editorial charac­ our economy are inextricably linked to our tween $15,000 and $30,000 is less than half as terized this bill as "That Other Tax Cut" investment in our human capital. Education likely to be in college as an 18- to 24-year old since it liberalizes the formulas that deter­ and training are central to developing the from a family with an income above $50,000. mine a student's eligibility for financial aid. nation's human capital. Middle-income families can also no longer This bill is targeted on providing relief from It is clear that the workplace of the future call on their traditional financial reserve, spiralling college costs for working and mid­ will demand more people with education and sending mom to work, to meet the costs of dle-income families, on expanding opportuni­ training beyond high school. The "Second higher education for their children. Mom has ties for higher education and on providing an Industrial Revolution"-the revolution in already gone to work and for the families investment in the future productivity and technology-leaves little place for those fortunate enough to have two wage earners, prosperity of our nation. •This "bullet" symbol identifies statements or insertions which are not spoken by a Member of the Senate on the floor. Matter set in this typeface indicates words inserted or appended, rather than spoken, by a Member of the House on the floor. 2602 EXTENSIONS OF REMARKS February 19, 1992 VERA LAMKA CELEBRATES 70TH ment to do what she does best. I want to com­ mit the following press release from the Arms BIRTHDAY WITH HER KINDER­ mend Kings Meadow Day School Director, Control Association for the CONGRESSIONAL GARTEN STUDENTS Laura Wright, for making that school a place RECORD: where Ms. Lamka can touch the lives of many U.S. ARMS TRANSFERS TO MIDDLE EAST HON. ILEANA ROS.LEHTINEN children. TOTAL $19 BILLION OF FLORIDA (By Lee Feinstein) IN THE HOUSE OF REPRESENTATIVES TRIBUTE TO GINNY McCOY According to figures released today by the Wednesday, February 19, 1992 Arms Control Association, U.S.