[Congressional Record Volume 159, Number 98 (Wednesday, July 10, 2013)]
[House]
[Page H4321]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1230
                             STUDENT LOANS

  (Ms. HANABUSA asked and was given permission to address the House for 
1 minute.)
  Ms. HANABUSA. Mr. Speaker, I am certain that during this past 
district work week you were asked, as I was: ``What about the student 
loans?'' What people were asking was: ``What are you doing in Congress 
about the rates that are going to double on July 1?''
  Let's review what we know, Mr. Speaker. We know that there are 7.4 
million students that are affected. The rates are doubling from 3.4 to 
6.8 percent, and this means $1,000 more in debt. We know that a college 
education can mean about $1 million more in future earnings over a 
lifetime. We know that we, as a country, need to build up our graduates 
to continue to be competitive. We also know that 45 percent of 
Americans hold student loan debt.
  Mr. Speaker, it is time to act now for America's future.

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