WASHINGTON, DC – Senator John Kerry today praised the Senate for passing a measure that would increase aid to students across Massachusetts and the rest of the country. The cost of college has tripled over the past 20 years and federal financial aid has not kept up. The bill aims to increase access to higher education and ensure that federal money continues to going directly to students.

“Because of the skyrocketing costs of higher education, some schools are having to take matters into their own hands,” Kerry said.

“Just yesterday, Amherst College announced that to help eliminate the overwhelming accumulation of students’ debt, it would replace all student loans in financial aid packages with scholarships. Programs like this are fantastic, but schools shouldn’t have to come up with their own fixes to the problem of high costs.

“The Senate higher education bill is a significant first step in helping to alleviate the financial burden of higher education and a wonderful way to level the playing field for millions of Americans by putting college within their reach.”

The bill would:

– increase access for low-income students by raising the maximum Pell grant;

– protect borrowers by capping monthly loan payments at 15% of discretionary income;

– protect working students by ensuring they aren’t penalized by increasing the amount of student income that is sheltered from the financial aid process;

– encourage public service by providing loan forgiveness for public service employees; and

– hold colleges responsible for rising costs by publicizing colleges who costs increases are higher than others.