[Congressional Record (Bound Edition), Volume 159 (2013), Part 7]
[House]
[Page 10413]
[From the U.S. Government Publishing Office, www.gpo.gov]




                TIME IS RUNNING OUT TO FIX STUDENT LOANS

  (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, more than a month ago, the 
House passed H.R. 1911, a bill based on the President's 2014 budget 
request, which would provide a market-based interest rate for student 
loans.
  Editorial boards from across the country have lauded this bill and 
have called on the Senate to act on a similar proposal:
  USA Today stated:

       Rates on loans are now set by Washington, not markets. 
     Obama and the House Republicans wisely call for a market 
     solution.

  The Boston Globe stated:

       The solution President Obama and House Republicans have 
     proposed would prevent what has become a frustrating annual 
     standoff.

  The Los Angeles Times stated:

       Republicans are backing a long-term solution that's similar 
     to one President Obama proposed . . . The Senate should pass 
     its own version . . . then work out the differences with the 
     House.

  With less than a week before student loan rates jump from 3.4 percent 
to 6.8 percent, the Senate has failed to pass a bill that would address 
the issue. It's time for the Senate to come to the table.

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