[Congressional Record Volume 159, Number 76 (Monday, June 3, 2013)]
[Extensions of Remarks]
[Page E771]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   SMARTER SOLUTIONS FOR STUDENTS ACT

                                 ______
                                 

                               speech of

                       HON. EDDIE BERNICE JOHNSON

                                of texas

                    in the house of representatives

                         Thursday, May 23, 2013

  Ms. EDDIE BERNICE JOHNSON of Texas. Mr. Speaker, I rise today in 
opposition to H.R. 1911, the Smarter Solutions for Students Act.
  In a global economy, putting a college education within reach for 
every American has never been more important. But it's also never been 
more expensive. On July 1, the interest rate on subsidized Stafford 
student loans will double from 3.4 percent to 6.8 percent if Congress 
does nothing, increasing college costs for over 7 million students by 
$1,000 per student, per loan. Unfortunately, this bill does not 
adequately provide the assistance our students need and instead 
exacerbates the college debt crisis.
  According to estimates by the Congressional Budget Office, interest 
rates under H.R. 1911 will be higher than current fixed rates for 
millions of borrowers seven of the next ten years. Even more troubling, 
H.R. 1911 also includes provisions the will provide $3.4 billion in 
debt reduction. It will be a sad day in American history if should the 
Congress decide to further burden struggling students to reduce a 
national debt they will already be paying for throughout the course of 
their lives.
  In Texas and all across the country, students and recent college 
graduates are now facing the highest unemployment rate of any other 
group. By 2018, 63 percent of all American job openings will require 
some sort of postsecondary education. In order for our country to 
remain competitive, we need to make college more affordable and 
accessible. Political gimmicks such as H.R. 1911 will only discourage 
our Nation's students from pursuing an education.
  With the cost of higher education continuing to skyrocket, I simply 
cannot support a measure that will increase the financial burden for 
millions of students and their families. If Americans fail to address 
this issue now, we will default on commitment to a better future for 
our children. We owe it to our young people to provide the 
opportunities that will allow them to become successful and productive 
adults.

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