Political Quotes

“I don't think there is anybody on either side of the aisle who isn't concerned about student debt, the cost of interest and college and the number of people graduating with debt. Addressing college costs and the burden of high student debt loans must be a priority, but it can't be done on a budget bill. We can't have policy on a budget resolution. I know this doesn't include all of her policy, so it is an incomplete bill. The Office of Management and Budget last month disclosed that participation in the existing income-based repayment plan has been much higher than was anticipated, and the administration is currently in the process of extending those existing repayment options to all the eligible borrowers with outstanding student loans. Therefore, the OMB now projects that the existing student loan portfolio will cost taxpayers an additional $22 billion. That is $22 billion more being spent to alleviate the repayment burden of borrowers with outstanding debt. We can find that number in the President's budget. The CBO did score the bill that Senator Warren introduced last Congress on which this amendment is based. The CBO projected that the government will make billions in profit--listen to this--from buying tens of billions worth of private student loans from banks and refinancing them at lower rates. They are going to buy up loans and then refinance those loans at lower rates, and somehow the way that scores is positive for the Federal Government? Wow.…”