Political Quotes

“over the July 4th recess I had the opportunity to talk with a number of young families about the crisis of student debt. Without exception, this is what they said: Please do not double the interest rates on subsidized Stafford loans from 3.4 to 6.8 percent. Please make college financing more affordable, not more expensive. This is an issue which not only impacts millions of families, it impacts our entire future as a nation and our economy. Right now, working-class families all over this country are asking themselves a very simple question: Does it make sense for them to go $40,000, $50,000, $100,000 in debt in order to get a college education? Many of these young people and families are saying: No, it doesn't make sense. So in a competitive global economy, we are saying to families all over this country that we do not want their kids to get a college education. We don't want them to become doctors, nurses, businesspeople, scientists, and teachers. We don't want them to expand their intellectual capabilities and make us a competitive nation in this highly competitive global economy. Now, if that makes sense to somebody, it surely does not make sense to me. The doubling of student loan interest only makes an existing crisis even worse. According to a report by the Consumer Financial Protection Agency, the total student loan debt in the United States now exceeds $1.1 trillion, which is nearly triple what it was in 2004.…”