On the recordDecember 5, 2023
Mr. Speaker, I would just like to note that the criticism that this bill does nothing to address the spiraling cost of education is just not true. The cost of higher education always rises in connection with the availability of student loans. Making student loans widely available with government backing has caused this wild cost increase in higher education, which has increased 4.6 times the rate of inflation since 1971. Canceling student loan debt will not lead to reductions in the cost of higher education. It will, instead, likely have the opposite effect, encouraging colleges and universities to raise tuition and other fees, knowing full well that the cost of these items will ultimately be borne by the taxpayers. Mr. Speaker, I yield 4 minutes to the gentleman from Texas (Mr. Roy).
