Political Quotes

“Mr. President, I rise today to speak about a growing crisis in our Nation that threatens our economy and the future strength of our country. A college education should be a path to the middle class, not a path to indebtedness. But today America carries the burden of $1.2 trillion in student loan debt. In my home State of Wisconsin almost 70 percent of the students graduating from 4-year institutions will have student loan debt, and the average debt amount will be $28,000. This is real money. This is real money that isn't going into growing our economy at a time when we desperately need economic growth. This is real money that isn't going towards buying a student's or graduate's first car or first home. The total amount of student debt in the United States has tripled in the last decade, from $363 billion in the year 2005 to over $1 trillion today. At the same time Federal financial support for students has not kept up with the need. The Pell Grant once covered $7 out of every $10. Today it covers $3 out of every $10 in college costs. In addition many States have scaled back their investments in higher education. The fact is that State investment in higher education has declined significantly over past decades, which has exacerbated the problem, particularly as States struggle to balance their budgets in these tough economic times. Their investments in students have decreased, meaning higher tuition, fewer grants, and fewer scholarships.…”