“Good Morning. I would like to thank the Chairman for holding today’s hearing on tax-exempt college and university endowments.
“As many of you know, my Congressional District in Metro Atlanta is home to many universities and colleges. Spelman, Morehouse, Georgia State, Clark Atlanta, Georgia Tech, Agnes Scott, and Emory are just a few of the more than 80 great institutions of higher learning in our community.
“Across the country, colleges and universities help train and prepare the next generation of scientists, teachers, doctors, nurses, architects, and engineers. Graduates are the future business owners, thinkers, creators, and leaders of our nation. In addition, many colleges and universities are research centers where experts and students search for cures to diseases -- like cancer, HIV/ AIDS, and Zika -- alternative, energy sources, and new technologies. Their work puts us on the path to greener, cleaner, and healthier possibilities for generations yet unborn across the U.S. and around the world.
“It is most important to remember the real impact and benefit of higher education for real people. In 2015, the average weekly earnings of a college graduate was over sixty percent higher than a worker with just a high school diploma. Simply said, education is the fastest path to the middle class.
“In light of the decreasing state support, it is more important than ever that the Federal government helps to keep open the doors to higher education. Republicans and Democrats must fully support Pell grants and student loan programs that make school affordable, and Federal student aid and tuition repayment programs must be fully funded.
“We must do our part. We have a duty to help make higher education more affordable, and we have a moral responsibility to make college accessible for all who aspire. I look forward to hearing from today’s witnesses on what we can do to keep the dream of education within the reach of all Americans. Thank you."
