Political Quotes

“I'm very pleased that finally we are taking action on the pressing issue of college affordability for constituents of mine across Colorado and Americans across our country. Absent congressional action, the current law today has effectively doubled the interest rate that our neediest families pay to be able to borrow money for afford college to 6.8 percent. I believe that the previous bill that passed the House was better than the doubling to 6.8 percent. It would save families money in the short- and medium-term while Congress worked through a final solution. But I'm very proud to say here today that this bill is far better. And I encourage my colleagues on both sides of the aisle to support this bill, which has several features that are strong improvements over the original House-passed version, including a fixed interest rate for the life of the loan so that our students are not beholden to the fluctuations of the market when they can least afford it--after they graduate. This bill would keep interest rates low for our neediest students and their families, providing some certainty and some surety. Under this bill, the typical undergraduate student borrower this year will save $1,500 over the life of a loan. A graduate student will save over $3,000. This bill is a step towards making sure that our student loan system is not subject to the whims of Washington every week, with arbitrary expirations and control over the interest rate.…”