Polis Issues Statement on Student Interest Rate Vote

Statement

Today, Rep. Jared Polis (D-CO) voted in favor of H.R. 1911, the Smarter Solutions for Students Act, which passed with a vote of 221 to 198.

"Students in Colorado and across the nation cannot afford to see their student loan interest rates double from 3.4 percent to 6.8 percent," said Rep. Polis. "The Smarter Solutions for Students Act takes in a step in the direction of President Obama's approach, which would provide a lower interest rate for students and a sustainable, long-term solution that will bring more stability and affordability to our student loan system. In the Education and Workforce Committee, I also voted in support of an extension of the 3.4 percent student loan interest rate. This would have given my colleagues and me more time to discuss a comprehensive solution to improve college affordability. "

Rep. Jared Polis (D-CO) also introduced H.R. 1716, the Earnings Contingent Education Loans (ExCEL) Act, with Rep. Tom Petri (R-WI), which would implement universal income-based repayment and simplify the student loan process for students, while also making this process fiscally sustainable.

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