On the recordApril 27, 2012
I thank the gentlelady from Oregon, and I was just reminded as I listened to her that in her State of Oregon, something on the order of 119,000 students will see an increase of about $93 million in interest rates if this takes place on July 1. In my own home State of Maryland, 103,400 students would see an increase in interest rates if the rate is allowed to go up from 3.4 percent now to double at 6.8 percent, and in Maryland, that would be to the tune of $80 million. These are extraordinary numbers, and that burden would be borne by those to whom we've said, you've done the right thing, you've gone to college, you've paid for your college, and now you're going to be able to repay your loans, but we want you to pay additional student loan interest because the Republicans have refused to act without also taking away preventive health care. These are really extraordinary numbers, Mr. Speaker, and I think when the American people hear about the danger that is afoot come July 1 with the increase in student loan interest, middle class families all across this country will be completely outraged. With that, I'd like to yield a few minutes of time to my colleague from New York (Ms. Clarke).
