Ron Klein: “the health of the American economy depends on having a highly educated skilled workforce, but studies show the number…”

“the health of the American economy depends on having a highly educated skilled workforce, but studies show the number one reason that students fail to attend college today is cost. In addition to tuition, fees, interest rates on student loans have also risen. Over the last 5 years the interest rates on student loans have jumped by almost 2 percentage points, further increasing the cost of college. Many of us were dependent on student loans to go to college in the first place. I am one of them. Recently, when I visited Pompano High School in my district, I met many exceptional students who were concerned that they would have difficulty managing tuition costs. These students in Pompano High School deserve better, as students do all over the United States. This Democrat bill would cut the interest rate in half from the current 6.8 percentage to 3.4 percent over the next 5 years. This proposal will help over 5.5 million low- and middle-income students and their families afford a college education and a way to a better life. As a case in point, a study this year by the U.S. Public Interest Research Group estimates the average cost for a Florida student, what it will save over the cost of its life is $4,400. That is a powerful incentive, and I ask everyone to join us in passing this legislation.”