On the recordMay 23, 2013
I thank the gentleman. Mr. Speaker, I rise today in opposition to the Making College More Expensive Act. Mr. Speaker, what we're doing is just not right. The Federal Government is borrowing money at 1.8 percent. Then we're lending it-- now--at 3.4 percent. If we do nothing, it goes to 6.8 percent. And under this bill, it probably will hit up around 10 percent. We're ripping off kids. I mean, we're making money off of these kids. A confident Nation will invest in the dreams of our young people, it won't crush those dreams. Why are we doing it? You know what? We're borrowing money as a government at 1.8 percent. The Federal Reserve is lending money to the big money center banks at 0.75 percent. But we're going to be charging up to 8 or 10 percent to our kids? I don't get that. Families are sitting around the kitchen table having discussions--if they have three kids, which two can we send to college? The SPEAKER pro tempore. The time of the gentleman has expired.
