John W. Olver: “tomorrow's reconciliation bill is a reckless attack on students attending college. Basically, the bill burdens students…”

“tomorrow's reconciliation bill is a reckless attack on students attending college. Basically, the bill burdens students from low- and middle-income families with 33 percent higher debt to pay for tax cuts that benefit almost exclusively those whose income is over $200,000 a year. This bill cuts $14 billion from student aid by increasing interest rates and taxes on loans and charging students new fees. The cost of college is skyrocketing, and it already leaves the average student $17,000 in debt. This bill would increase that debt by 33 percent. Many low- and middle-income students will no longer be able to afford college and their lifetime earning power will be reduced. Under the reconciliation bill, at least four students are going to start their careers burdened with added debt to pay for each millionaire's tax cut. And all this is being done so that the wealthiest 3 percent of Americans can have another huge tax cut. ____________________”