John Tierney: “This is the final amendment to the bill. It won't kill the bill, and it will not send it back to committee. If this…”

“This is the final amendment to the bill. It won't kill the bill, and it will not send it back to committee. If this amendment is adopted, the bill will immediately proceed to final passage, as amended. Mr. Speaker, there are 5 legislative days remaining until this House recesses for the August district work period. It is unacceptable that the House would recess without taking meaningful action on one of the most important issues confronting students and parents and middle class families in my district in Massachusetts and all throughout the country--student loan debt. Throughout this week, I have offered amendments and motions that provide student loan borrowers the opportunity to refinance their existing high-interest loans to a lower rate, much like homeowners and businesses are often able to do. It would help them save thousands of dollars over the life of their loans. It would serve as an economic stimulus, as the savings generated from the refinanced loans would increase students' discretionary funds that would likely be reinvested and spent at local businesses, and it would help reduce the deficit. It would also enable tens of millions of Americans to pursue their goals and move forward with their lives. I continue to hear from those whom I represent who share their personal stories. They tell me what a priority student loan refinancing is for them and their families.…”