Today, Congresswoman Karen Bass (D-Calif.) issued the following statement in response to Senate passage of legislation to address the doubling of interest rates on Stafford student loans:
"It's both immoral and irresponsible to tax the educational investments of young people to help fund the federal government," Congresswoman Bass said. "The federal government should be a constructive partner in spurring reforms that help students and borrowers to attain a college education - not serving as a loan shark. When the federal government earns more in profits off of students than the largest corporations take home in profits, it's time for a different approach. But sadly Washington continues to miss the mark in standing up for our students."