Guthrie Supports Bill to Prevent Student Loan Rates from Doubling

Statement

Congressman Brett Guthrie (KY-02) today voted in support of H.R. 1911, the Smarter Solutions for Students Act.

"As a member of the House Education and the Workforce Committee, I know how important student loans are to our nation's students and graduates," said Congressman Guthrie. "Pursuing higher education is a wonderful goal and we should do what we can to prevent student loan rates for graduates from increasing."

H.R. 1911 would prevent the looming increase in student loan rates and apply a market-based interest rate to all new student loans. Further, the bill would simplify the loan process and allow student loan rates to be reset based on the market once each year.

"Students, just like everyone else, are looking for certainty, especially in this time of slow economic recovery. H.R. 1911 will provide a long-term solution that also works to reduce our deficit," said Congressman Guthrie.

"This proposal is based on President Obama's recommendation from his FY13 budget. It is unfortunate that he is allowing politics to seep into this discussion and is standing in the way of this important legislation that would prevent student loan rates from doubling," added Congressman Guthrie.

Source