[Congressional Record (Bound Edition), Volume 158 (2012), Part 8]
[House]
[Page 10752]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      STUDENT LOAN INTEREST RATES

  (Mr. THOMPSON of Pennsylvania asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. THOMPSON of Pennsylvania. Mr. Speaker, today, the House passed a 
bipartisan 1-year extension of the current interest rate for Federally 
subsidized student loans. This is a good thing for students across the 
country. But as we celebrate this accomplishment, let's keep our eye on 
the larger picture. We wouldn't be worried about these interest rates 
if not for the fact that the economy is so weak and the cost of 
education is so high. According to the Department of Education, the 
savings will be $7 a month for the average Stafford loan borrower. 
While that might not seem like a lot, each dollar counts for a college 
graduate still searching for a good-paying job.
  We can have a larger effect for students by working to repeal Federal 
unfunded mandates that drive up the cost of college tuition and by 
working to put the wheels back on the economy. As a member of the 
Subcommittee for Higher Education and Workforce Training, I'm committed 
to making that happen. Let's work together to ensure that students can 
achieve a quality education at a reasonable cost and get great jobs 
when they graduate. There's no better social program than a good-paying 
job.

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