[Congressional Record (Bound Edition), Volume 160 (2014), Part 7]
[Senate]
[Page 9472]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              STUDENT LOAN

  Mr. LEVIN. Mr. President, in the fall of last year, Adrian College in 
Adrian, MI, made an announcement that received national attention. 
Adrian, one of the finest private liberal arts colleges in America, 
made a promise to prospective students: Beginning this fall, incoming 
students who graduate from Adrian carrying student loan debt and are 
unable to find a job that pays above a set income will be eligible for 
support from the college to pay part or all of that student's loan 
payments. The program, known as AdrianPlus, will ensure that students 
who are not able to find good-paying jobs after graduation will still 
be able to begin their work careers without facing crushing debt 
payments all alone.
  This announcement was notable for two reasons. The first is that it 
represents a visionary choice on the part of President Jeffrey Docking 
and the rest of Adrian's leadership. I am grateful to them for showing 
the kind of leadership that makes Adrian a proud example of my State's 
outstanding higher education institutions. Adrian has long been 
recognized not just for the quality of its instruction, but for its 
efforts to make that education accessible and affordable, and this is 
just the latest example of the school's forward thinking.
  The second reason this announcement was so notable is that it was so 
necessary.
  As President Docking said in announcing the program, ``Student debt 
load continues to be a national concern.'' That is surely the case. 
According to the Project on Student Debt, nearly two-thirds of 
graduates from Michigan colleges and universities leave school with 
student debt. They owe an average of more than $28,000. The rising tide 
of student loan debt threatens to overwhelm the financial futures of 
these graduates before they can even get their working lives started. 
And the looming prospect of heavy loan debt threatens to keep many 
young people from even reaching a college campus.
  Adrian College's program will not completely erase this problem, but 
it is a good start. Likewise, no single piece of legislation will make 
college more affordable, increase access to education for middle-class 
families, or eliminate the mountain of debt many students carry. But it 
is time for us to start taking some steps in the right direction. A 
number of Senators have introduced or are working on student loan 
legislation, including legislation allowing students to refinance their 
debt at lower interest rates. I believe the Senate should take up, 
debate and pass legislation to lighten the all-too-formidable load. We 
should explore other ways to ensure that college education is indeed 
affordable to all.
  Study after study shows that a college education makes an enormous 
difference in allowing Americans to pursue rewarding careers. But if we 
can not ensure that all Americans have access to higher education, we 
shut off access to the American dream. We cannot let the disturbing 
trends in student debt and college costs continue unabated, and I hope 
that, inspired by the Adrian College example, we will act to halt and 
reverse those trends.

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