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Public Statements

Student Loan Interest Rates

Floor Speech

Location: Washington, DC

Mr. PETERS of California. Mr. Speaker, I rise today to bring further attention to the fact that unless Congress takes definitive action, student loan interest rates will double on July 1. With that in mind, I proudly support H.R. 1595, introduced by Congressman Joe Courtney, and other bills that would keep student interest rates frozen at their reasonable rates for the next 2 years.

Right now, college tuition is spiraling beyond what many students and their families can afford. In many instances, students are being forced to leave school because they are accruing so much debt. At UC-San Diego or the University of San Diego or Point Loma Nazarene, all of which are in my district, students are relying on us to keep loan rates low.

My own education was made possible by student loans and work-study, and we must ensure that today's generation of students has the same opportunity to attend college that I and so many of us had. I ask my colleagues to support H.R. 1595.

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