Put Politics Aside and Act on Student Loan Rates

Floor Speech

Mr. HULTGREN. Mr. Speaker, student loan rates are set to double on Monday. It has been a month since the House passed the Smarter Solutions for Students Act that would stop this doubling of rates.

At a time when we need to restore people's faith in government, the Senate adjourned last night and failed to prevent this from happening. This is extremely harmful to the students in Illinois and across the Nation. Student loan rates should not be held hostage by Members of Congress to advance their own political agendas.

The House's solution takes Washington politics out of the equation and is a long-term fix that moves student loans to a market-based interest rate. It even echoes the President's plan.

Speaking to students in my district, I have heard their concerns about the rising costs of education. Jeni, a student from Batavia, told me that she would like to expand on the education she has received at Northern Illinois University but is already concerned about loan payments when she graduates.

She is not alone. This is a crisis that will further cripple our economy's recovery.

I call on the President to step up and provide the leadership needed. Let's urge the Senate to act. Join the House and take Washington politics out of students' wallets and stand up for tomorrow's economy.

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