[Congressional Record (Bound Edition), Volume 158 (2012), Part 4]
[House]
[Page 5556]
[From the U.S. Government Publishing Office, www.gpo.gov]




                EDUCATION IS AN INVESTMENT IN OUR FUTURE

  (Mr. BACA asked and was given permission to address the House for 1 
minute.)
  Mr. BACA. Madam Speaker, in these tough economic times, it's critical 
that Congress work to make quality higher education available to all 
Americans. We know that investing in education is an investment in our 
future, an investment in the strength of America.
  By the year 2018, 63 percent of all American jobs will require some 
level of higher education. Sadly, if Congress does not act soon, the 
interest rate for student loans will double from 3.4 to 6.8, higher 
than home loans. This will cause thousands of dollars in new debt for 
more than 7.4 million American students.
  Unfortunately, the Republicans in Congress have refused to go forward 
with legislation that would prevent this crisis. And some Republican 
leaders have openly criticized students who graduate with college debt.
  It's time that Congress worked together to help middle class 
families, not just the wealthiest few. We must pass legislation that 
strengthens the Pell program and prevents an increase in student loan 
rates.
  Thank you, President Obama, for taking the lead in helping our future 
generations and leaders of tomorrow.

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