On the recordNovember 14, 2023
As it stands today, Americans owe over $1.7 trillion in student loan debt, more than 5 percent of the Nation's total $33 trillion debt. The annual cost of attendance for students living on campus at a public 4-year State institution is 26 grand, or over $104,000 for a 4- year degree. Out-of-State students pay $27,000, or over $108,000. Private nonprofit university students pay 55 grand, or more than $225,000. Do you know what is a new low? Do you know what is cruel? Do you know what is unconscionable? It is sending kids out with worthless degrees with debt that they can never sustain. It is a new low to oppose something like this because you know what is driving this? It is the exponential growth of children and kids who are coming up who cannot afford education because your grants, your continued giving of taxpayer funding to the universities has actually increased the number of people who have to get assistance. Why? Because tuition has spiked. It is growing multiples of the inflation rate. That is what is cruel. That is what is unconscionable. Mr. Chair, I reserve the balance of my time. The Acting CHAIR. Members are reminded to direct their remarks to the Chair. Ms. DeLAURO. Mr. Chair, I yield the balance of my time to the gentleman from Virginia (Mr. Scott), the distinguished ranking member of the Education and the Workforce Committee.
