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Public Statements

Tierney, House Democrats Take Action to Force Vote on Student Loan Interest Rate Fix

Press Release

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Date:
Location: Washington, DC

Congressman John Tierney, the only Massachusetts Member on the House Education and the Workforce Committee, joined his Democratic colleagues today in an effort to force a vote in the House to prevent the doubling of the student loan interest rate. Congress has fewer than 10 legislative days to act and help 7 million students and families.

"Time is running out to prevent interest rates from doubling for millions of students and families," Congressman Tierney said. "Republican leadership in the House pushed through a bill that will make the situation worse for students, while refusing to bring a straightforward, common-sense fix to the Floor. Students and families deserve a vote on a bill that will fix this immediate problem."

Democrats filed a discharge petition on the Student Loan Relief Act (H.R. 1595), a procedural motion that frees up the bill which has been blocked in a congressional committee. If it garners the sufficient number of signatures, the discharge petition would require a straightforward, up-or-down vote on the Student Loan Relief Act to extend current low interest rates on subsidized Stafford student loans for two years and allow Congress time to consider long-term, comprehensive solutions, to address both rising college costs and affordability, during the reauthorization of the Higher Education Act.

Last month, House Republicans pushed through legislation to make college more expensive for students and families, by charging nearly $4 billion more annually in higher interest payments for their student loans.

Congressman Tierney is an original co-sponsor of the Student Loan Relief Act. He is also the author of a long-term plan with Senator Reed (D-RI) that provides comprehensive reform to provide our students and families with relief.


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