The South Carolina Student Loan Corporation, South Carolina's only nonprofit student loan provider, released the following concerning the introduction by House Education and Labor Committee Chairman George Miller (D- CA) of H.R. 3221, the Student Aid and Fiscal Responsibility Act. The Committee is scheduled to mark up the legislation on Tuesday, July 21.

H.R. 3221 constitutes a dramatic overhaul of the federal student aid programs. The bill would greatly increase mandatory Pell Grant funding for low- income students and create a new $3 billion College Access and Completion Innovation Fund to improve student success, completion and post-completion employment. This new funding will help further the dreams of many young people in South Carolina - particularly low- income and first- generation students - whose college aspirations SC Student Loan is dedicated to serving.

"I commend Chairman Miller for recognizing the value of state- based and nonprofit student loan providers by enabling us the opportunity to continue to provide local, customer- friendly student loan servicing," President and CEO Chuck Sanders said. "This will also help prevent the loss of many experienced student- support personnel as well as provide valuable continuity to borrowers in South Carolina and across the nation."

SC Student Loan looks forward to working with Congress and the Administration.

www.scstudentloan.org