Statement on Congressional Passage of Student Loan Access Legislation

Earlier today Congress passed the "Ensuring Continued Access to Student Loans Act" with overwhelming bipartisan support. I am pleased by Congress's swift action to address this vital issue. In particular, I want to thank the committee chairs and ranking members for their hard work. Millions of students around the country could potentially benefit from this important piece of legislation.

In order to ensure that Americans can continue to compete in the global marketplace, the Federal Government has an obligation to encourage and support people pursuing higher education. By granting the Department of Education greater authority to purchase Federal student loans, today's action should ease the anxiety many students may feel about their ability to finance their education this fall. Thanks to quick and decisive action by my administration and the Congress, Federal student aid will be available in a more timely fashion.