[Congressional Record Volume 141, Number 86 (Tuesday, May 23, 1995)]
[House]
[Page H5388]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     CHANGE IN STUDENT LOAN PROGRAM

  (Mr. POMEROY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. POMEROY. Mr. Speaker, I think it is dead wrong to turn our back 
on our Nation's students by eliminating the in-school interest deferral 
on student loans. The student loan program is not for children from 
wealthy families. It is for those who qualify, namely those from 
middle- and low-income backgrounds.
  Watching Members of Congress my age who I know back when they were 
students took advantage of these programs now vote to repeal them to 
give tax breaks to their rich friends makes me sick. I think it is dead 
wrong for those who took advantage of programs now to vote to 
essentially pull up the ladder and deprive those who follow of the same 
opportunities that they had.
  This hit to student loans comes at a time when the importance of 
education has never been greater, but the cost unfortunately has never 
been higher. We should not get to a point where our college campuses 
bear a sign, ``Only the wealthy need apply.'' But unfortunately the 
Republican plan financing tax breaks by eliminating student loan 
interest deferral brings us much closer to that sorry state.

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