Congressman Mike Fitzpatrick (PA-8) released the following statement Monday regarding the failure of the Senate to take action to prevent interest rates for some federal student loans from doubling:
"It is troubling to me, both as a parent and a lawmaker, that the Senate chose not to take any form of action to prevent student loan rates from doubling today.
This is a very real problem for millions of students, and one that deserves a real, bipartisan, long-term solution -- not partisan bickering, patch-work extensions, and broken promises. By failing to act, Senate leaders have simply said that scoring political points is more important coming together to help America's students.
Even though rates have already gone up I will continue to call on the Senate come together on a piece of legislation that ties student loan rates to the market- similar to the one passed by the House and asked for by President Obama. Only when both chambers of Congress have produced bills can we conference and come up with a real solution."
Congressman Fitzpatrick voted in support of the Smarter Solutions for Students Act [HR 1911] which passed the House of Representatives on May 23, 2013. The bill prevented student loans from doubling while taking the interest rate decisions out of the hands of the political process.
He was also a co-signer on a June, 19th bipartisan letter asking the Senate to take action on the student loan crisis. Read the letter here: http://bit.ly/17YSJ9B