[Congressional Record (Bound Edition), Volume 149 (2003), Part 19]
[Extensions of Remarks]
[Pages 26692-26693]
[From the U.S. Government Publishing Office, www.gpo.gov]




              FEDERAL EMPLOYEE STUDENT LOAN ASSISTANCE ACT

                                 ______
                                 

                               speech of

                            HON. FRED UPTON

                              of michigan

                    in the house of representatives

                       Tuesday, October 28, 2003

  Mr. UPTON. Mr. Speaker, I commend my colleagues for this needed 
legislation, which ensures the federal government's deep commitment to 
a highly trained, diverse workforce. But we should go even further. In 
order to best maximize federal government resources, we should 
encourage competition in all aspects of the student loan program, 
including consolidation loans.
  In order to instill such competition, we will need to make sure that 
during the reauthorization of the Higher Education Act, which is 
currently moving through the Education and the Workforce Committee, we 
repeal the single holder rule. I want to thank Chairman

[[Page 26693]]

Boehner and Congressman McKeon, for their efforts to keep college costs 
under control during consideration of this important legislation. It 
will be part of my commitment to them as well as Federal agencies, 
students and families everywhere that they can have the benefit of 
competition from the more than one thousand qualified lenders in the 
program when they consolidate their loans and, thus, allow them to take 
advantage of historically low fixed interest rates.

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