Political Quotes

“I rise today to offer a deficit-neutral reserve fund amendment to the budget that will allow the chairman of the Budget Committee to revise allocations to provide for a simplified income-driven repayment program for Federal student loans. This budget amendment is offered with the hope that it would allow for legislation similar to the Repay Act, which I introduced earlier in this Congress with Senator King, Senator Alexander, Senator Warner, Senator Shaheen, Senator Ayotte, Senator Rubio, Senator Capito, Senator Collins, and Senator Carper. I wish to spend a moment telling my colleagues what the Repay Act would do. It is very simple. It would streamline the numerous loan repayment programs into two easily understood options for those who take out student loans. No. 1, it would create a fixed repayment program similar to the current law's 10-year standard repayment. No. 2, it would create a new simplified income-driven repayment program that consolidates numerous income-based programs into one program. As we know today, students who go to college have to take out a number of different loans. It is confusing in the system to know exactly what that repayment system looks like--especially for somebody who is trying to determine their job opportunities and the income they need to meet their debt.…”