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Conrad: Senate Votes to Freeze Student Loan Rates, Extend Flood Insurance

Press Release

Location: Washington, DC

Senator Kent Conrad praised a bipartisan agreement passed by the Senate today to prevent an escalation of student loan rates and the expiration of a national flood insurance program, saying that both measures are critically important to North Dakotans.

"Because the Senate acted in a responsible way today, more than twenty thousand North Dakota students and young professionals will not see their student loan repayment rate skyrocket," Senator Conrad said. "While you cannot overemphasize the benefit of a quality education, we shouldn't be putting future generations of North Dakotans in an economic hole. And we certainly shouldn't be disincentivizing the pursuit of higher education."

Senator Conrad said federal student loan programs show 21,830 North Dakotans would have been unfairly penalized by the loan hike.

The Senator also praised Senate action to reauthorize the national flood insurance program for five years. Senator Conrad worked with Senator Hoeven to remove a residual risk provision from the bill that would have unfairly impacted thousands of North Dakotans by requiring individuals protected by levees and other flood control structure to buy flood insurance.

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