[Congressional Record Volume 141, Number 58 (Wednesday, March 29, 1995)]
[House]
[Page H3887]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


               FIGHTING TO PRESERVE STUDENT LOAN PROGRAMS

  (Ms. DeLAURO asked and was given permission to address the House for 
1 minute and to revise and extend her remarks.)
  Ms. DeLAURO. Mr. Speaker, last night, Republicans refused to crack 
down on billionaire tax evaders who renounce their citizenship to avoid 
paying their fair share of taxes. But, preserving tax loopholes for 
billionaires is just the latest installment of the great tax giveaway 
of 1995. And, who is paying for this windfall to the wealthy? Middle 
class, working families.
  Just look at what is next on the GOP agenda: Republicans want to cut 
student loan programs to help finance their tax cuts to the wealthy. 
Four crucial student aid programs are on the GOP chopping block. 
Together, these programs account for 75 percent of the financial aid 
currently awarded to college students.
  In Connecticut, 39,176 students rely on Stafford loans. The average 
debt of these students is $13,835. The Republican proposal would 
increase the average debt by $4,547 per family. That means monthly 
payments will soar, from $164 a month to $202 a month. This may not 
sound like much to Speaker Gingrich, but it is real money to a 24-year-
old in his or her first job.
  Many Members of this body took out student loans to pay for their 
education. It is wrong to deny that same opportunity to the students of 
today. Democrats will fight to preserve student loans programs, not tax 
loopholes for the wealthy.


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