Political Quotes

“I am glad I stayed to hear the Senator from Washington speak because I think this highlights the issue. That is a terrific political speech, but it bears no resemblance to what is actually happening in the student loan debate. The distinguished Senator from Washington talked about rates going up. Rates are going up for over 7 million--7 million--middle-income students in America who are going to be taking out loans this year, and the Democratic proposal does nothing for them. Their proposal does nothing for them. All the Democrats are trying to do is a political fix for 1 year for students taking out 40 percent of the loans who are already the beneficiary of Pell grants, as she so ably expressed, who have their interest paid while they are in college. These students are borrowing subsidized loans. These students may receive a Pell grant of up to $5,550. They have their interest paid while they are in college. This accounting system used by the Congressional Budget Office is very generous to students as opposed to taxpayers, because it is done under the Federal Credit Reporting Act, which is more generous to students, in this case, than taxpayers. What about the over 7 million middle-income students who are just swinging in the wind under the Democratic proposal? It does nothing for them.…”