Jack Reed actually said...

"Given the tightness of your budget, and that's being mild, the idea of generating $20 million to do something that, frankly, could be done as well, and I would argue better, by simply moving the ship ..."

"I hope we can all agree that the status quo is not acceptable and that we can't delay in addressing the rising student loan debt."

"Our student loan programs were originally seen as an investment, not a profit center or even a cost-neutral proposition. However, today our student aid investment has been stood on its head."

"Today's hearing on student loans is of critical importance. The social and economic implications of the rising tide of student loan debt demand that we take action."