Political Quotes

“Mr. President, there are only 3 weeks left until interest rates on new subsidized student loans will double. If we fail to act, the cost of college will increase for millions of students. There are strong proposals on the table that would keep interest rates low while Congress has time to work out a permanent solution. Yet Congress fails to act. Why? Two issues: Money and values. First, money. Some have argued we can't afford to keep interest rates low, but let's be clear. Right now, the Federal Government is making a profit from our students. Last month the Congressional Budget Office calculated the government will make $51 billion this year off student loans. Think about that: $51 billion--and that is $16 billion higher than the earlier estimate. We have the money to cut interest rates if we are willing to reduce the profits we make from our students. Unfortunately, Republicans see it differently. Two weeks ago House Republicans passed a plan that would produce higher profits off the backs of our college students. And here in the Senate, Senator Coburn has introduced a similar bill that makes student loans more profitable--all at the expense of our college students. This is wrong. We should reject Republican plans to make more profits off our students. Senator Coburn talks about how his plan is similar to the low- interest rate banks offer through the Federal Reserve, but he has that wrong.…”