Richard Burr: “Reclaiming my time, clearly, the Senator said her bill only deals with the subsidized Stafford loan. Under current law…”

“Reclaiming my time, clearly, the Senator said her bill only deals with the subsidized Stafford loan. Under current law, let me state it again, unsubsidized Stafford loans, current law, 6.8 percent; parent and graduate PLUS loans, 7.9 percent. Somehow, somebody thinks this is fair. I, personally, participated in coming up with something that treats everybody the same, that ties it to a 10-year Treasury, that fixes the rate above a 10-year Treasury that sets that number once a year, lets students know exactly what their exposure is going to be, and provides them the certainty of that interest rate for the life of the loan----”