Political Quotes

“In 45 days, the interest rate on the Stafford Student Loan program is going to double from 3.4 percent to 6.8 percent. As millions of American families know, the Stafford Student Loan program is the workhorse for middle class students trying to pay for college. It is a program which has an affordable interest rate. It provides protections for students so that interest doesn't accumulate while you're actually in school. It provides a grace period after you graduate. And it also has a cap in terms of how much of your income has to be devoted to Stafford loan repayments. In 2007, as a freshman Member of Congress, I was proud to have been a cosponsor of the College Cost Reduction Act, which cut that rate from 6.8 to 3.4 percent. It was a 5-year bill, like many measures that Congress passes; and that expiration, that sunset, will occur on July 1, 45 days from today, when that rate will double back to 6.8 percent. Last week the Senate made an attempt to try and take up legislation to protect that lower rate. Sadly, the Republican minority used the filibuster rule to block not even just the bill, but even a debate on the bill. I repeat: they didn't even use the filibuster rule as a block of all Republicans to vote against the measure. They actually used the filibuster to even allow consideration of debate.…”