Whereas, The current state of the economy means that many students are staying in school for longer and many adults are returning to school for re-training;

Whereas, The alternative financing proposed in the Governor's bill and endorsed by the Alaska Student Loan Corporation (ASLC) and the Alaska Department of Revenue is a win/win solution that meets an urgent statewide need to assist students in financing their education programs with no cost to the state's General Fund;

Whereas, Unless this alternative is approved quickly, Alaska will not be able to provide low-cost financial aid to students;

Whereas, Without this financial aid, many students may not be able to attend school next year;

Whereas, Simultaneously, 177 lenders have suspended their education loan programs in Alaska;

Whereas, The grant provisions included in the American Recovery and Reinvestment Act are only targeted at the very neediest students; and

Whereas, This means that there are fewer options for finacial aid and that demand for financial aid is increasing; now therefore be it