Hilda L. Solis: “graduation season is in full swing, and all across the country eager college students are walking across the stage and…”

“graduation season is in full swing, and all across the country eager college students are walking across the stage and entering into the workforce. While many wonderful experiences no doubt lie before them, one factor will quickly dampen their spirits, the reality that they are now saddled with unmanageable debt they accrued while obtaining their college degree. The debt will grow even more daunting if they miss an important deadline that is fast approaching. That is why I came to the floor today, Mr. Speaker, to encourage all college graduates and their parents who are carrying debt to consolidate their Federal college loans before July 1. If they do not, interest rates will rise by 7 percent for students and 7.8 percent for their parents. Consolidating this month will allow them to lock in a low rate of 4.75 percent, drastically reducing the overall amount they will have to pay. Mr. Speaker, the Republicans refuse to join us in making college affordable for many, many young people. In fact, they actually made college more expensive for American students when they passed a $12 billion in higher education cut earlier this year. I urge strong support for our students and parents. ____________________”