On the recordJune 19, 2013
Unless Congress acts, in less than 2 weeks, the interest rates on federally subsidized Stafford loans will double from 3.4 percent to 6.8 percent for more than 7 million students. In my home State of Rhode Island, which is home to more than 40,000 borrowers of federally subsidized Stafford loans, this means that higher education will become less attainable for more and more young people who depend on financial aid. As we work to get our economy back on track, we should be making it easier, not more difficult, for young people to access higher education. Once again, the House Republican leadership is failing to act in the best interest of the American people. Rather than working towards a commonsense solution on student loan interest rates, we are spending this week voting on a $20 billion cut to children's nutrition programs and a bill that would severely restrict reproductive health care for women. This has gone on long enough. In the interests of our constituents, Republicans and Democrats should set aside our differences and get back to solving the problems that our country faces. The Republican leaders in the House should bring bills to the floor for a vote that focus on protecting students from interest rate increases and getting Americans back to work. ____________________





