Political Quotes

“today, January 9, is a monumental day for postsecondary education. Just a few hours ago President Clinton announced that the college loan default rate has fallen to a 7-year low which translates into lower interest rates and more loans for young people. From a high of 22.4 percent in 1990 the default rate has dropped to approximately 10 rac{1}{2} percent, and I applaud the Clinton administration for its efforts to improve the collection of defaulted loans and to prevent loans from falling into default status. The Department of Education has done a sensational job in counseling students about their loan responsibilities and helping to create more flexible payment options for young people. A spokesman for the American Council on Education, an association representing colleges and universities, stated, "This administration has tightened up on weaknesses in the system, and defaults are down." I agree, Mr. Speaker, with my colleagues who suggest we need to reform our educational system. However, I disagree with those who call for the abolition of the Department of Education. To the contrary, we need to expand the role of the Federal Government with respect to education and educational funding.”