FIRST FIVE YEARS FUND URGES SENATE TO BACK STUDENT LOAN REFORM TO CREATE HISTORIC INVESTMENT IN EDUCATION AND ECONOMIC HEALTH

WASHINGTON, D.C. — The First Five Years Fund today urged members of the U.S. Senate to join with their House of Representatives colleagues to support student loan reform.  The savings realized from restructuring the nation’s student lending program would be invested in early education, community colleges and student loans.  A portion of the savings would also go toward reducing the deficit.

“Here’s the choice: Senators can align themselves with some of the nation’s richest and most powerful banks, whose lobbying machines have been in overdrive. Or they can decide to use these savings to ensure a more promising economic future through a better educated workforce.  The return on these investments for children and communities are significant, lasting, and unquestionable. It’s that simple,” said Cornelia Grumman, executive director of The First Five Years Fund.

The student loan reform bill includes up to $10 billion in the Early Learning Challenge Fund (ELCF) that would create a competition to spur higher quality early education for at-risk children.  ELCF is similar to the widely praised Race to the Top program that the Administration began for the K–12 system.

FFYF is committed to improving the lives of at-risk children by leveraging cost-effective investments in early learning. FFYF aims to focus nationwide attention and resources on comprehensive, quality early care and learning programs for children from birth to age five.

Additional information about the return on investment in early education is available at www.ffyf.org.