Lois Capps: “With just 5 days left until the student loan interest rates double, Congress must act now. If we do not, student loan…”

“With just 5 days left until the student loan interest rates double, Congress must act now. If we do not, student loan interest rates will double overnight from 3.4 percent to 6.8 percent. This will increase the cost of college for more than seven million students across this Nation and on the central coast of California, adding thousands of dollars to a student's college bill. And this will not only saddle students with more debt, but it will hinder our growing economy. At a time when the cost of college continues to rise, we must do all that we can to make college as affordable as possible for as many students as possible. We must keep open the doors of opportunity for all and, in the process, produce a well-educated workforce that will grow our economy. That's why I'm a proud supporter of legislation to keep the student rates at a low 3.4 percent. This legislation should be brought to this House floor for a vote immediately. Mr. Speaker, interest rates in other sectors remain low to help grow the economy. Why shouldn't they remain low for our students? They are our future. ____________________”