On the recordJune 6, 2013
On one final subject, to ensure this Nation's continued economic recovery and long-term success, it is crucial that America invest in our educated workforce, and we need to continue to have an educated workforce. In this country a college education is the surest path to a better life. But higher education has never been more expensive or further out of reach for middle-class families. So it is crucial Congress act before July 1 to keep the interest rates low for 7 million college students who can't afford to pile on more debt. Democrats have a commonsense plan to prevent loan rates from doubling for 2 years without adding a single penny to the deficit. We will consider that legislation, as I have just indicated, later this morning. The Republican alternative proposal, by contrast, would be worse than doing nothing at all. It would be worse than letting the rates double, which would happen if we do nothing. The Republican proposal will saddle students with even more debt--about $6,500 more debt--than they have today. That is a serious blow, considering that Americans have more than $1 trillion in student loan debt. Keeping college affordable is the best investment we can make in our country. Congress should remove the obstacles from keeping young people from getting an education and not put more barriers in their way. I hope our Republican colleagues will work to invest in America's future instead of, once again, sticking it to the students. ____________________
