Political Quotes

“And I rise today in support of the Empowering Students Through Enhanced Financial Counseling Act. I would like to start by thanking Chairman Kline, Ranking Member Miller, and Congressman Guthrie for their leadership on this bill, which will improve the financial counseling that millions of student loan borrowers receive. I am pleased that Members are coming together to take a meaningful step toward protecting student loan borrowers. I also want to thank the Committee on Education and Workforce staff on both sides of the aisle for their hard work to include Members' shared priorities in a bill that has earned tremendous bipartisan support. The need for enhanced financial counseling for students is clear. More than 40 million Americans are carrying more than $1.2 trillion in student loan debt, and default rates are climbing. At the same time there is evidence that student loan debt is a drag on the broader economy. Borrowers struggling with debt may delay purchasing a new car, a home, or new appliances. They may be unable to access capital to start a business, or they may put off saving for retirement. Of course, the solution to the mounting burden of student loan debt will require a number of changes. We will need to address rising tuition, and we will need to do a better job of granting existing borrowers access to affordable repayment plans.…”