Representative Yvette D. Clarke released the following statement today applauding the enactment of the Surface Transportation Conference Agreement. This bill funds transportation projects through Fiscal Year 2014, extends existing student loan interest rates, and reauthorizes our national flood insurance program.
"Though it was a difficult fight, I am pleased that an agreement has finally been reached on funding the highway bill which will spur job creation, the reauthorization of the Flood Insurance program for five years and preventing the doubling of the federal student loan interest rate from its current rate of 3.4 percent to 6.8 percent on July 1," said Representative Clarke.
Representative Clarke did, however, state her disappointment that this bill was partially funded by limiting the period of time in which students qualify for in-school interest deferments.
"Republicans have made cuts to much-needed student aid programs and deferments which must end," said Representative Clarke. "In this economy, education determines earning potential. Helping students attend college does not only help individual students, it allows us to strengthen the foundation of a more competitive national economy."
"Know that I will continue to fight for job creating legislation and work with my Democratic colleagues to increase Pell grant funding and lower college costs," concluded Representative Clarke.