BeautyLink - Volume 6, Issue 3 - (Page 25)
A CONGRESSMAN'S PERSPECTIVE
BY BEAUTYLINK STAFF
ongressman Robert (Bobby)
C. Scott (VA) spoke up in
support of federal funding
access and affordability
during a keynote presentation delivered at the AACS
Spring Operations Conference in May. "I'm
pleased to be addressing an industry that
is an important part of the national economy-an industry that represents over $40
billion in salon sales and employs over
1.1 million people," he said.
Rep. Scott noted that the path to successful careers-including careers in
the beauty and wellness industry-is
achieved through education. He noted
that while U.S. lawmakers have long
espoused the value of education, an educated workforce is even more important
in today's global economy. "Our nation is
competing in a world where companies
don't have to be close to their workers.
The number one competitive advantage
the U.S. has is access to an educated
workforce and we need to improve more
in this area," he said.
Just as education is central to employment, Scott remarked on the correlation
between education and earnings. "Twothirds of jobs today require education
beyond high school, including careers in
vocational fields," he said, adding that in
order to secure the education needed to
pursue their career, students need access
to financial resources. "All students should
be able to pursue their dreams and the
funding necessary to move toward those
Congressman Robert (Bobby) C. Scott (Virginia),
AACS Spring Operations Conference speaker.
dreams. We need to keep education affordable and accessible," Scott said.
As the Higher Education Act is considered anew, Scott reflected on two central
 New legislation must ensure access to
 Legislators must ensure that funding
remains available for that education.
Over the past 40 years, the Pell grant has
been successful at delivering educational
access to low-income students, noted
Scott. However, in today's environment
of soaring tuition increases, government
funding is not delivering the same level of
access. For example, four decades ago, federal funding covered about 75 percent of
the cost of a four-year college. In 2012, Pell
funding covered just one-third of tuition
at a public institution and one-sixteenth
of tuition at a private school.
How is Congress responding to this situation? Scott noted that in 2014, Congress
considered increasing federal student loan
interest rates from 3.4 to 6.8 percent. Instead
an "11th-hour" legislative response adjusted
the rate to the U.S. 10-year Treasury, plus
one percentage point. The uncertainty of
what level Treasury yields might reach
means uncertainty for student borrowers.
Scott criticized Congress for their
approach to federal student lending. He
noted that the Federal government made
$16 billion off student loans in 2013 and that
the extra one percent added on to 10-year
Treasury yields represents all profit for the
government. "Is it more important to have
an extra one percent to pay for tax cuts or
to make more funds available for education?" he asked an audience that responded
with strong applause.
At the same time that federal funding for
education has been cut, Scott lamented an
increase in funding for correctional facilities. He used California as an example,
noting that funds available for prison populations used to be one-third the amount of
funds for education. Now those numbers
have been reversed.
He closed his remarks by noting that
legislators have a choice: Congress can
vote to continue tax cuts, or vote to fund
education-an approach he says will serve
the nation's interests better in the future.
Unfortunately, he noted that Congress's
failure to effectively deal with the 2013
"fiscal cliff" resulted in the problem being
pushed down the road for consideration at
a later date. "Ultimately, we didn't make
any choice at all," he said.
This story is a recap of remarks made by
Rep. Robert (Bobby) C. Scott at the AACS
Spring Operations Conference, May 2014
in Phoenix. Some of Rep. Scott's most
encouraging comments were delivered in
a Q and A with attendees. Please reference
the Workings from Washington update
on page 13, which includes comments
excerpted from the Q and A session.
The courses FA110 - Developing an Efficient Financial Aid Office and FA120 - Default Prevention: A State of
Mind are available on the AACS Online Training Center. Members call AACS at 800-831-1086 for your VIP Discount
Code. Visit the following URLs to learn more about these courses: www.aacstraining.org/courses/FA110 and
B E AUT YL I NK | C E L* E * BR AT E | 2 0 1 4 |
Table of Contents for the Digital Edition of BeautyLink - Volume 6, Issue 3
Message From the Aacs President & CEA Chair
The Workings of Washington
The Art of the Consult
A Student’s Perspective
Celebrating Our Graduates
Access and Affordability
And Then There’s Compliance
Are You Ready to Thrive?
Navigating the Acquisition Path
Creating a Marketing Mixture
Culture Trumps Strategy
Beauty Changes Lives
20 Ways to Celebrate You
Battle of the Strands
Students Leaving the Beauty School “Nest''
Why Every Educator Needs to Be at CEA This Year
Step by Step
Voices From the Classroom
People & Places
Create a Recipe for the Future
New Products & Services
Associate Member Profiles: Furniture Manufacturers
New School Members
Upcoming 2014-15 Events
Index to Advertisers
BeautyLink - Volume 6, Issue 3
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