[Congressional Record (Bound Edition), Volume 159 (2013), Part 6]
[Senate]
[Page 8146]
[From the U.S. Government Publishing Office, www.gpo.gov]




                             STUDENT LOANS

  Mr. REID. On one final subject, to ensure this Nation's continued 
economic recovery and long-term success, it is crucial that America 
invest in our educated workforce, and we need to continue to have an 
educated workforce. In this country a college education is the surest 
path to a better life. But higher education has never been more 
expensive or further out of reach for middle-class families. So it is 
crucial Congress act before July 1 to keep the interest rates low for 7 
million college students who can't afford to pile on more debt.
  Democrats have a commonsense plan to prevent loan rates from doubling 
for 2 years without adding a single penny to the deficit. We will 
consider that legislation, as I have just indicated, later this 
morning.
  The Republican alternative proposal, by contrast, would be worse than 
doing nothing at all. It would be worse than letting the rates double, 
which would happen if we do nothing. The Republican proposal will 
saddle students with even more debt--about $6,500 more debt--than they 
have today. That is a serious blow, considering that Americans have 
more than $1 trillion in student loan debt.
  Keeping college affordable is the best investment we can make in our 
country. Congress should remove the obstacles from keeping young people 
from getting an education and not put more barriers in their way. I 
hope our Republican colleagues will work to invest in America's future 
instead of, once again, sticking it to the students.

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