[Congressional Record (Bound Edition), Volume 158 (2012), Part 2]
[House]
[Page 2361]
[From the U.S. Government Publishing Office, www.gpo.gov]




            PASS H.R. 3826 AND PROTECT COLLEGE AFFORDABILITY

  (Mr. COURTNEY asked and was given permission to address the House for 
1 minute.)
  Mr. COURTNEY. Madam Speaker, 124 days. That's how many days between 
today and July 1 when the interest rates for the Stafford Student Loan 
program are going to double from 3.4 percent to 6.8 percent unless 
Congress acts. I, Congressman Peters, and Senator Jack Reed in the 
Senate have filed legislation to lock in those rates at 3.4 percent. 
This Chamber must act.
  Today, student loan debt now exceeds credit card debt in the United 
States of America--a milestone which is a disaster and a formula for 
failure in this country. We have fallen from number one in the world in 
terms of graduation rates to number 12, which is a threat in terms of 
our future economic vitality.
  As young people will be all across this Capitol over the next 2 
months or so, I hope Members of Congress will look those kids in the 
eyes and will do the right thing to protect college affordability. Pass 
H.R. 3826.

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