[Congressional Record (Bound Edition), Volume 153 (2007), Part 1]
[House]
[Page 1448]
[From the U.S. Government Publishing Office, www.gpo.gov]




                          IN SUPPORT OF H.R. 5

  (Ms. LORETTA SANCHEZ of California asked and was given permission to 
address the House for 1 minute and to revise and extend her remarks.)
  Ms. LORETTA SANCHEZ of California. Mr. Speaker, I rise today in 
support of H.R. 5, legislation that will reduce interest rates for 
student borrowers.
  Now, we all know that the cost of college has gone up every year. In 
fact, over the last 7 years the cost of a public school education, on 
average, has increased by 41 percent and at a private school by 7 
percent. That is in real dollars.
  So, how do lower income and middle income students go to higher 
education? They do it with Pell Grants. In California we do it with the 
State grants, but we also do it by borrowing. And so I believe that we 
should lower the interest costs so that anybody who wants to have a 
higher education, if you want to go back and get your master's, if your 
child wants to go and get their B.A., that we should be a partner in 
investment with them. Investing in our people is the most important 
thing our country can do to be competitive vis-a-vis the rest of the 
world.

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