Political Quotes

“I thank the gentleman for yielding. I rise in strong opposition to the Republican Making College More Expensive Act that we're considering today. Market-based systems will drive up the cost for millions of middle class families but will, of course, also benefit some of our biggest banks and other financial institutions. If we want to get our country back on the right track, put men and women back to work and ensure that we remain competitive in the global economy, we have to do more to make higher education more accessible and more affordable, not more expensive. Without Congressional action, the interest rate on Federal subsidized Stafford loans is scheduled to increase from 3.4 percent to 6.8 percent for more than 7 million students. We should not be making a profit on student loans--period. We have proposals that will end this practice and give students access to college at the lowest cost possible. Unlike this bill, the Student Loan Relief Act, the Responsible Student Loan Solutions Act, and the Bank on Students Loan Fairness Act would each preserve low interest rates for students. The bill before us today is a bad Republican idea that will make college more expensive for working families and will benefit some of America's largest financial institutions who will earn billions more in student loan interest. Hidden within this bill is a blatant bait-and- switch scheme that will allow students to borrow money at one rate before the interest rates skyrocket.…”