Brett Guthrie: “That's a great point that I brought up when we were debating it back in 2009. What people don't realize, as it didn't…”

“That's a great point that I brought up when we were debating it back in 2009. What people don't realize, as it didn't get a lot of coverage, Mr. Speaker, is that the Federal Government took over the student loans. So you're going to hear a lot about student loans in the next few days because after July 1 the student loan rates are going to go up. The House was active. We passed a bill. It's in the Senate. I've heard the President talk about it. What people need to realize is that when the health care bill passed--as my friend just said, the Federal Government can loan money at a low rate because we can pretty much borrow from ourselves at a low rate. When we loan it to students, they pay a little over 3 percent; and the difference, the flow, comes back to the Federal Government, the profit from loaning to our businesses. Do you know where $8.7 billion of that is going to? To pay for the health care bill. Instead of taking $8.7 billion and giving it back to students who are struggling with affordability of college--I'm in that world right now because my son is leaving this summer to go off to college and I have a daughter in college. So most of the people that are peers of theirs that I see, we talk about the affordability of college. One of the things that we did is we took money that students are paying back on their student loans to pay for the health care bill.…”