Political Quotes

“Mr. President, today is an excellent day for students across the country who are taking out college student loans. For the upcoming school year, the Treasury auction just took place on 10-year notes. Some folks might ask: What is the connection with student loans and Treasury notes? Three years ago, Senator Alexander, myself, Senator Manchin, Senator King, and others said something very simple: We are going to get politicians out of the business of setting student loan rates, and we are going to let the marketplace do it. That was a wise decision, as was the law we passed--the Bipartisan Student Loan Certainty Act. Since 2013 it has saved students and their parents $36 billion in taking out student loans. We will save another $10 billion again this year. That means that 200,000 North Carolinians--students and their parents--are saving even more on student loans. Those 200,000 North Carolinians take out about $500 million in student loans to attend universities and colleges. Because of this law, they have been saving. Because of today's Treasury auction, they are going to save even more. They are going to save about $1.1 billion across my State alone because of the reduction in the Treasury note from a little over 4 percent on the 10- year to 3.76 today. Congressional Research Service tells us that about $4,500 less will be paid out for a 4-year degree.…”