Political Quotes

“Once again, we have been pushed to a political standoff over an important issue that affects the future of our nation. On July 1, college students will see the interest rates on their federal loans double. College is becoming less and less affordable each day, and the bill the majority has offered for a vote this week, H.R. 1911 the Smarter Solutions for Students Act, provides no reprieve for college students. In fact, if this bill becomes law, it would make college more expensive for students and their parents than if Congress did nothing and let the interest rates double. It shouldn't be titled the Smarter Solutions Act, but rather, the Making College More Expensive Act. It is not simply rhetoric or a baseless claim to state that the Republican bill will increase the cost of college. The Congressional Research Service looked at different scenarios where a student or their parent would use a federal loan in order to pay for college and how much that loan would cost under the Republican plan if rates were frozen at 3.4 percent, and if rates were allowed to double to 6.8 percent. Based on projected interest rates, CRS found that the Republican-led H.R. 1911 would increase interest payments under each scenario.…”