[Congressional Record Volume 162, Number 41 (Tuesday, March 15, 2016)]
[Senate]
[Pages S1505-S1506]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Ms. BALDWIN (for herself, Mr. Blumenthal, Mr. Booker, Mrs. 
        Boxer, Mr. Brown, Mr. Cardin, Mr. Casey, Mr. Durbin, Mr. 
        Franken, Mrs. Gillibrand, Ms. Hirono, Ms. Klobuchar, Mr. Leahy, 
        Mr. Markey, Mr. Menendez, Mr. Merkley, Ms. Mikulski, Mrs. 
        Murray, Mr. Peters, Mr. Reed, Mr. Reid, Mr. Schatz, Mr. 
        Schumer, Mrs. Shaheen, Ms. Stabenow, Mr. Udall, Ms. Warren, Mr. 
        Whitehouse, and Mr. Wyden):
  S. 2677. A bill to make college more affordable, reduce student debt, 
and provide greater access to higher education for all students of the 
United States; to the Committee on Finance.
  Ms. MIKULSKI. Mr. President, I rise today to talk about an issue that 
is of the utmost importance to me, Marylanders, and American families--
college affordability.
  I have said this often, but we in this country enjoy many freedoms: 
the freedom of speech, the freedom of the press, and the freedom of 
religion. But there is an implicit freedom our Constitution does not 
lay out in writing, but its promise has excited the passions, hopes, 
and dreams of people in this country since its founding. It is the 
freedom to take whatever talents God has given you, to fill whatever 
passion is in your heart, to learn so you can earn and make a 
contribution to society--the freedom to achieve.
  The freedom to achieve should never be stifled in this country 
because of economic reasons. Your freedom to achieve should never be 
determined by the zip code you live in, by the color of your skin, or 
by the size of your family's wallet. It should be, in a democratic 
country, that everyone has access to be able to do that. That means 
affordable education. That means access to the opportunity ladder that 
students and families can count on, because we know a degree is 
something that no one can ever take away from you.
  When I was a young girl at a Catholic all-girls school, my Mom and 
Dad made it very clear that they wanted me to go to college. But, right 
around graduation, my family was going through a rough time because my 
father's grocery store had suffered a terrible fire. I offered to put 
off college and work at the grocery store until the business got back 
on its feet. My Dad said, ``Barb, you have to go. Your mother and I 
will find a way, because no matter what happens to you, no one can ever 
take that degree away from you. The best way I can protect you is to 
make sure you can earn a living all of your life.'' My father gave me 
the freedom to achieve.
  When it comes to higher education, I believe in choice and 
opportunity. Anyone willing to work hard has a right to learn so you 
can get a college degree or certificate. Millions of American students 
are graduating colleges and universities, but as they are handed their 
diplomas, they are being handed a lifetime of debt.
  More than 58 percent of Maryland college students have taken on an 
average debt of $27,000 or more. Having this debt is like a first 
mortgage, making it hard to buy a home, start a business, or a family. 
I am worried about them, as should the rest of us, and what it means 
for their future. College is a part of the American dream; it should 
not be a part of the American financial nightmare.
  That is why, over the last several months, I embarked on a college 
affordability tour across the state of Maryland. I wanted to find out 
what were some of the challenges students faced when it came to 
college. I wanted to know how the Federal Government can help them be 
successful. The stories I heard were poignant, and were likely ones 
that everyone in this chamber has heard time and time again.
  I met a bright young woman last year. She had the financial support 
of her parents to attend college. Unfortunately, during her sophomore 
year, her mother--who was a nurse--lost her job. To make sure she could 
still go to college, her family made the decision to dip into their 
retirement savings to help pay. This goes to show that her family knew 
how important it was that she continue her education. Even with this 
additional financial support, she still had to rely on Federal 
financial aid to pay for books.
  Or the young man who is the first in his family to go to college. He 
hopes he is not the last. He would not be where he is today had it not 
been for a strong support system in high school through participation 
in a college bound program that gave him the opportunity to be exposed 
to college classes. While he came to college academically prepared, he 
still needed help navigating our complex Federal financial aid system.
  This is just a small sample of the stories I heard. But they all say 
the same thing: ``We need help.'' Many students and families are 
stressed and stretched, having to work and save to pay for college. 
They want to know what Congress is doing for them. They need a Federal 
Government that is on their side.
  Student loan debt is more than $1.3 trillion, exceeding total credit 
card and car loan debt, and eclipsed only by mortgage debt. Family 
incomes are not keeping pace with inflation, which means they are less 
able to help with the costs of higher education.
  Getting a college education is the core of the American dream. Let us 
continue to fight to make sure that every student in America, whether 
you are in rural Eastern Shore or in big cities like Los Angeles, has 
access to that dream. Let us work together to make sure that when 
students graduate, their first mortgage is not their student debt. 
Carrying the burden of student loans drags down young people's 
financial future, making it harder to buy a home, start a family, or 
save for retirement.
  It is my belief that this bill--the In The Red Act--will make college 
a reality for millions of Americans. I am pleased to see that 
provisions in this bill would allow eligible student borrowers the 
opportunity to refinance their Federal loans. I believe that if

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you can refinance a yacht, you should be able to refinance your student 
loans. This will help more than 24 million students in the United 
States, including more than 800,000 student borrowers in Maryland.
  I am also pleased to see that this bill increases Pell Grants to keep 
pace with rising costs. This will ensure that college students, who 
rely on Pell Grants, can pay for tuition, books, room and board, and 
other living expenses like child care.
  The In The Red Act is absolutely a great bill for students, and it is 
a great bill for America. It gives our students access to the American 
dream. It gives our young people access to the freedom to achieve, to 
be able to follow their talents, and to be able to achieve higher 
education in whatever field they will be able to serve this country. It 
is my hope that we come together to pass this bill in a swift, 
expeditious, and uncluttered way.
  While our work is not done when it comes to ensuring access to 
affordable higher education, this bill helps us get there. I look 
forward to working with my colleagues on both sides of the aisle to 
move this issue forward.
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