[Congressional Record Volume 159, Number 89 (Thursday, June 20, 2013)]
[Extensions of Remarks]
[Page E947]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


             H.R. 1595, THE STUDENT LOAN RELIEF ACT OF 2013

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                            HON. GENE GREEN

                                of texas

                    in the house of representatives

                        Thursday, June 20, 2013

  Mr. GENE GREEN of Texas. Mr. Speaker, I rise today in support of 
extending the 3.4 interest rate on Stafford Student loans to protect 
students from seeing their interest rates double on July 1, 2013. As 
the cost of higher education continues to climb and total student loan 
debt eclipsed credit card debt for the first time, the consequences of 
inaction are unacceptable. We need to be making college more affordable 
for all students, not putting it further out of reach.
  As an advanced degree becomes more and more of a requirement for well 
paying jobs, it is vital that low interest loans be available so that 
students can access an affordable college education. Approximately 60 
percent of students take out loans to attend college and increasing the 
cost of borrowing will prevent millions from being able to obtain a 
degree.
  H.R. 1595, the Student Loan Relief Act of 2013, is a clean extension 
that would freeze the 3.4 interest rate on Stafford loans for two 
years. I urge my colleagues to pass this legislation to prevent a 
crippling hike in rates and give Congress time to find a true long-term 
solution to student loans and college affordability that is worthy of 
our nation's young people.
  A strong middle-class, well educated workforce and the opportunity 
for upward mobility are the building blocks of a thriving economy. To 
maintain and strengthen each, every student must have the opportunity 
to pursue higher education, not just the privileged few.
  College educated students are the future engine of our country, and 
anyone who wants to pursue a post-secondary education should have the 
opportunity to do so without going into crushing debt. I urge my 
colleagues to stop rates from doubling and extend the current interest 
rate of 3.4 percent.

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