On the recordMay 6, 2014
I rise today to speak about one of the great crises facing our country; that is, the high cost of college, and the fact that hundreds and thousands of young people who are bright and wish to get a higher education have now decided that, because they do not want to leave school deeply in debt, they are not going to go to college. What a loss that is, not only to the individuals and the enhancement of their own lives, but it is a loss to our Nation because in a highly competitive global economy we need the best educated workforce possible. The fact that college is becoming a distant dream-- an unreachable dream--for millions of families is a horrendous situation which this Congress must address. Over the last 10 years, the cost of attending a public 4-year college has increased by nearly 35 percent at a time when middle-class incomes have remained flat and, in fact, many families have seen a decline in their incomes. Of the students who do go to college, hundreds of thousands graduate with significant debt--on average, over $27,000. This morning I was talking to a staffer of mine who is $119,000 in debt. And what was her crime? How did she accrue that debt? Did she go on a spending spree? Did she lose her money in a gambling casino? Her crime was that she wanted to go to law school, and she came out of law school $150,000 in debt. Today that is down to $119,000. I have talked to doctors and dentists who are now several hundred thousand dollars in debt.…





