(Sacramento) – Assemblyman Curren Price (D-51) urged lenders and community college and university administrators to keep the doors to education open for the poor. The Assemblyman's actions were in response to the announcement that Sallie Mae will no longer make private loans open to students with low credit scores. Sallie Mae is one of the nation's largest student loan companies in the nation and provides private education loans to students across the nation.

"I am communicating my concerns to education leaders in Congress. I am sure Congress and the federal government will respond, but, right now thousands of my young constituents rely on financial aid to keep them in school. I'm a former business owner. I understand the necessities of the market, but investing in the education of our youth is a price we must pay," explained the Assemblyman.

The Assemblyman has pledged to work with public and private colleges and universities in his district, including Southwest College and Loyola Marymount University to ensure that students stay in school. Last year Mr. Price authored AB 175 to expand Cal Grant funding, an important source of financial aid for all students. Mr. Price will be working with the University of California Student Association (UCSA) on this bill. In addition to UCSA, Mr. Price is asking for the support of the Statewide Chapter of the National Association for the Advancement of Colored People (NAACP).

"Access to education is a fundamental civil right," said Assemblyman Price. "Today's actions by Sallie Mae represent a crucial imbalance on the scale of justice. We must balance the real needs of the market and business with the imperative of education for our youth. We must make sure that students are paying back their loans on time and in full and we must continue to ensure that students have access to these loans."

The availability of student loans, ways to stem the tide of the achievement gap in community colleges and education related issues will be the centerpiece of a discussion hosted by Mr. Price on May 9, 2008 at Inglewood High School. The first annual education summit, titled "Closing the Achievement Gap from Kindergarten to College," will feature State Superintendent of Public Instruction, Jack O'Connell and LAUSD Superintendent, Admiral David Brewer.