Political Quotes

“Mr. President, we all recognize that a postsecondary education is required for most family-sustaining, middle-class jobs, and that an educated workforce is essential to a modern, productive economy. A report by the Georgetown University Center on Education and the Workforce found that college-level intensive business services have replaced manufacturing as the largest sector in the U.S. economy, and that while college-educated workers make up only 32 percent of the workforce, they now produce more than 50 percent of the Nation's economic output, up from 13 percent in 1967. A college degree also pays off, with one recent analysis estimating that the typical college graduate will earn $900,000 more of their lifetime than the typical high school graduate. Yet just as there is growing recognition that postsecondary education is indispensable in the modern economy, families are being required to shoulder growing debt burdens that threaten access to college and their financial health. According to an analysis by the Federal Reserve, student loan debt per capita doubled between 2005 and 2014, rising from $5,000 to $10,000. This is a growing drag on our economy. As student loan debt has grown, young adults have put off buying homes or cars, starting a family, saving for retirement, or launching new businesses. They have literally mortgaged their economic future. We know that student loan borrowers are struggling.…”