On the recordFebruary 12, 2014
I thank my colleagues Senator Jack Reed of Rhode Island, Senator Elizabeth Warren of Massachusetts, and Senator Kirsten Gillibrand of New York for joining us on the floor this morning to talk about the student debt crisis and college affordability. I don't think this is just another issue. I think this is a defining issue. Imagine, if you will, what has happened to America since we have called into question the intrinsic value of owning a home. That used to be built into our culture, the notion that if you could get beyond the rental stage and actually buy a home was a smart and good investment in terms of your neighborhood, your community, and your State. The mortgage crisis that we went through was a shock to many people. They paid too much for their homes. They found themselves facing foreclosure and short sales, and the basic premise has been challenged. There is more rental property now. People are hedging their bets on the issue of home ownership. Now take one of the other pillars of our basic American values, and that pillar is: You will never go wrong with more education. I learned that at an early age, and luckily my mom and dad--with limited educational experience on their own part--pushed me forward into college and into law school and to finish. They believed that at the end of the day, I would be better off. Of course, statistics bear that out. Now comes the new challenge.…





