Rep. Lee, UNLV Announce New Program to Make Higher Education More Affordable, Lee’s Bipartisan Legislation to Expand Program Nationwide
LAS VEGAS, NV – Today, Congresswoman Susie Lee (NV-03) hosted a roundtable at the University of Nevada, Las Vegas (UNLV) with Earn to Learn and UNLV students and administrators to announce UNLV’s new Earn to Learn program that will make higher education more affordable for current and returning students, and to discuss Lee’s bipartisan Earn to Learn Act, which would expand implementation of this program nationwide.
“As a lifelong education advocate, I know that education is the key to opportunity. Unfortunately, the cost of higher education has skyrocketed, leaving many graduating with crippling student debt,” said Congresswoman Susie Lee. “I’m glad my commonsense bill will help Nevadans achieve the education and training they need without taking on crippling debt, and I look forward to continue working with UNLV to help higher education more attainable for students here in Nevada.”
In response to rising higher education costs nationwide, the Earn to Learn Act is common-sense legislation that would establish a matched-savings program to help low-income students, including adult learners, pay for tuition, books, fees, and other education-related expenses.
This bipartisan bill is a much-needed step to addressing the student loans crisis in the United States. Nearly 368,000 Nevadans together owe approximately $13.2 billion in student loan debt. Additionally, 93,000 Nevadans, or 25% of Nevadans with student loans, are in default—and Nevada borrowers in default owe more than $2 billion.
“Higher education creates a pathway to personal and career success, but affordability is a real concern for many attending or considering a return to college,” said Chris Heavey, UNLV interim president. “That’s why we’re proud to partner with Earn to Learn through our Destination Degree initiative to remove barriers to access and make the road to a UNLV degree more attainable. And we’re grateful to Congresswoman Lee for her continuing efforts to advance the Earn to Learn Act, which would reduce reliance on student loans, improve financial literacy, and make higher education possible for students in Nevada and nationwide.”
Modeled off the successful Earn to Learn program, the Earn to Learn Act helps Nevadans achieve the education and training they need without taking on crippling debt. Students who qualify save $500 of their own money toward their education. Their investment is then matched 8:1 through a combination of public and private support. The combination of the student’s savings and the match creates up to $4,500 in flexible scholarship support that can address unmet need and remove financial barriers to postsecondary completion.
“For more than a decade, Earn to Learn has seen the power of combining matched savings, financial education, and student support to help students invest in their own futures, complete their education, and build greater financial stability,” said Kate Hoffman, founder and chief executive officer of Earn to Learn. “The Earn to Learn Act creates an opportunity to bring this proven model to students across the country, while our partnership with UNLV demonstrates what is possible when higher education, government, philanthropy, and the private sector come together to invest in students. We are incredibly grateful to Congresswoman Lee for her leadership and to UNLV for helping bring this innovative approach to Nevada and expand pathways to education and economic opportunity.”
As seen during the program’s operations at the state level, Earn to Learn scholars have a first-year retention rate nearing 90%, and the majority of them graduate with little or no student loan debt. In fact, the majority of Earn to Learn students graduate with less than $10,000 in student loan debt. The demonstration program created by the bill would enable an estimated 250,000 scholarships over the course of five years.
Before coming to Congress, Lee spent two decades leading education non-profits – reducing dropout rates and making sure Nevada kids had the wrap-around services they needed to thrive.
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