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College Student Relief Act of 2007

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Date:
Location: Washington, DC


COLLEGE STUDENT RELIEF ACT OF 2007

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Mr. HARE. Madam Speaker, I thank the chairman for yielding.

Madam Speaker, today's college students are graduating with increasing levels of student loan debt. In Illinois, the average Stafford loan debt for students who graduate from a 4-year university is over $14,000. Unfortunately, the cost of college tuition is skyrocketing, forcing more and more students to rely on loans than ever before. Because I believe higher education should provide economic opportunities for our students and not bankrupt them, I rise today in support of H.R. 5, the College Student Relief Act.

This legislation will cut interest rates on subsidized loans in half, saving the average student thousands of dollars over the life of his or her loan. Additionally, by making student loans more affordable, H.R. 5 allows many qualified students from middle- and lower-income families to go to college who would not have been able to go to college before.

On behalf of the many students in my district, such as those at Western Illinois University with whom I will be discussing this issue this weekend, I will vote for H.R. 5 and will work on the Education and Workforce Committee to find better opportunities for students and their hardworking families.

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