[Congressional Record Volume 159, Number 57 (Wednesday, April 24, 2013)]
[House]
[Pages H2257-H2258]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        STUDENT LOAN RELIEF ACT

  (Mr. COURTNEY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)

[[Page H2258]]

  Mr. COURTNEY. Mr. Speaker, 1 year ago tomorrow marks the anniversary 
of the Federal Reserve Board reporting that student loan debt exceeded 
$1 trillion. What that means for the average student loan borrower in 
America is a debt level of $27,000. That's just the average. Many 
students graduate, sadly, with debt levels of six figures.
  Despite the fact that we have that looming burden on middle class 
families all across the country, in 67 days the Stafford student loan 
program interest rate will double from 3.4 percent to 6.8 percent, 
adding even further interest debt to students unless Congress acts.
  Mr. Speaker, I've introduced H.R. 1595, the Student Loan Relief Act, 
with my colleague in the Senate, Senator Jack Reed--we have 95 
cosponsors in the House--which will extend the lower rate for 2 years 
and give this House time to come up with a comprehensive solution for 
higher education access and affordability, which, again, extends back 
to giving students better information for when they enter college and 
helping those who graduated in terms of allowing them to refinance.
  It is time, however, to pass the extension of the lower rate. Let's 
not go backwards. Let's help middle class families all across America.

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