[Congressional Record (Bound Edition), Volume 158 (2012), Part 12]
[House]
[Page 16957]
[From the U.S. Government Publishing Office, www.gpo.gov]




                        PAY AS YOU EARN PROGRAM

  (Mr. COURTNEY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. COURTNEY. Mr. Speaker, while the whole world is waiting to see 
whether the House Republicans say ``yes'' to extending middle class tax 
cuts, President Obama, on Friday, moved ahead with following through on 
a campaign promise to help people with student loan payments which are 
at record-high levels.
  The Pay as You Earn program, starting next Friday, will accept 
applications to cap repayment at 10 percent of discretionary income. 
So, for example, an individual with $30,000 in income and $26,000 in 
debt will see their monthly payments drop from $166 a month to $110 a 
month.
  Individuals can contact the U.S. Department of Education's Web site 
to apply for this assistance or call your Member of Congress. And while 
you're at it, tell them to extend middle class tax cuts, sign on to the 
Walz bill, and let's get away from this fiscal cliff.
  Congratulations to the President for following through for young 
Americans to make sure that they're going to get needed help to pay for 
college.

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