Jeff Merkley actually said...

"I am trying to get my hands around just how big a hole the program is in currently."

"I was one of the Senators that advocated fiercely for that change."

"Is there any sort of mechanism in the law in which rates are adjusted in order to cover the interest on the debt?"

"I would, as the institution have met, essentially, the requirement for the non-Federal 10 percent, even though I am doing so in a fashion that perhaps is further exploiting the student."