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Public Statements

Student Loan Rates

Floor Speech

Location: Washington, DC

Mr. BARBER. I am deeply discouraged that as we face the impending doubling of interest rates for student loans that House leadership will send us home tomorrow without a solution.

More than 7 million students, former students and their families in the United States, including more than 450,000 in my home State of Arizona, rely on these loans to help pay for college. Federal student loans are a critical tool for ensuring that educational opportunities remain open to as many Americans as possible.

Higher education is a critical economic engine for my State and for the Nation. Workers age 25 and older, with a bachelor's degree, we know, earn 63 percent more than those with a high school diploma. These differences will only increase as the world economy becomes more competitive and technologically advanced.

I urge my colleagues on both sides of the aisle to stay here, not go home tomorrow, but stay here and work together to prevent student loan interest rates from doubling in 4 days. D-day is July 1, and we must act now to support the aspiring young Americans to get their college educations.

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