[Congressional Record Volume 159, Number 98 (Wednesday, July 10, 2013)]
[House]
[Pages H4321-H4322]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             STUDENT LOANS

  (Mr. MURPHY of Florida asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. MURPHY of Florida. Mr. Speaker, I rise today to echo the 
sentiments of many of my colleagues on both sides of the aisle 
regarding the urgency to fix the student loan interest rate hike that 
took place last Monday.
  The inability of Congress to come together and compromise on behalf 
of America's students is embarrassing. Doubling interest rates makes 
college less affordable, and the increased debt burden threatens the 
middle class and harms our economy.
  Recent graduates who should be putting away money for their first 
home or saving up to start their own business are instead spending 
upwards of $500 per month paying back loans for their college 
education. Recent Florida graduates left college with student loan debt 
equal to 54 percent of their annual income.
  Just this Monday, I heard the concerns of students in my district on 
how this debt will impact their future. Some students are even 
considering dropping out of college.

[[Page H4322]]

  Mr. Speaker, the American people deserve better. I once again urge 
the House of Representatives to set politics aside and immediately take 
up legislation to right this wrong.

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