.S. Senator Rob Portman (R-Ohio), a cosponsor of the Bipartisan Student Loan Certainty Act, sponsored by Senators Manchin (D-WV), King (I-ME), Burr (R-NC), Coburn (R-OK), and Alexander (R-TN), today issued the following statement as we moved one day closer to the July 1 deadline regarding federal student loan interest rates:
"We're just days away from watching student loan rates double for seven million American students and recent graduates, nearly half of whom, according to a recent study, are underemployed or struggling to find employment that is consistent with their education level.
"I have joined Democrat Joe Manchin, Independent Angus King, and Republicans like Richard Burr in a bipartisan solution which is in line with the White House's proposal and provides long-term certainty in a fiscally responsible manner. If House Republicans, the White House, and Senate Republicans all agree on a market-based framework, why are loan rates still perilously close to doubling? Some within the Senate Democratic caucus would rather score political points on the back of Ohio's young than vote on a workable, bipartisan solution. And yet some are still shocked America has such a low opinion of Washington."