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Public Statements

Student Loan Crisis

Floor Speech

Location: Washington, DC

Mr. COURTNEY. Mr. Speaker, in a few hours, one of the least productive, most unpopular Congresses in American history is going to go on another recess, despite the fact that in 43 days interest rates for the Stafford student loan program will double from 3.4 percent to 6.8 percent on July 1, 43 days away from today.

What's happened in the last week or so? The Senate Republican leadership led a filibuster to block not only the consideration of a bill to prevent this, but discussion or debate on a bill. In this House, after 3 months of stonewalling, Speaker Boehner brought a bill to the House which cynically took money out of a preventive health care fund for cancer and heart disease screening to pay for a 1-year

Band-Aid for Stafford student loans, a measure which the Hartford Courant this morning--the oldest published newspaper in America--described as ``just sick.''

My bill, H.R. 3826, will lock in the lower rate at 3.4 percent, providing students and families with a real horizon to budget for college. It has over 150 bipartisan cosponsors. It is time for us to move, fix this issue, and allow students and families the ability to plan for next year's college year.

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