[Congressional Record Volume 158, Number 70 (Wednesday, May 16, 2012)]
[House]
[Page H2724]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              STUDENT DEBT

  (Mr. WELCH asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. WELCH. In 45 days, the interest rates on some Stafford student 
loans are going to double. Even though we have a consensus in Congress 
that low interest rates should be extended, we can't get the job done. 
Families can't wait. They're sitting around, trying to figure out how 
they'll put their kids through college.
  Take Beth from Westfield, Vermont. She told her children when they 
were young that college was part of their futures and important if they 
were going to make it into the middle class. Now she fears she may have 
steered them wrong. Her family currently holds $150,000 in debt. In a 
tough job market, Beth's kids are struggling to get a foothold in life 
with loan repayment costs exceeding $500 a month. Beth would like to 
help, but she is not really in a strong position to do so. She went 
back to college later in life, hoping to advance her career, and now 
she is way down, as are her kids, with this enormous burden.
  Mr. Speaker, Congress has 45 days. Congress needs to act. We can't 
afford to price the middle class out of a college education.

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