TSA Office of Inspection Accountability Act of 2015

Floor Speech

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Mrs. MURRAY. Mr. President, I think a lot of people here talk about what they think everyone should be focused on, but what I think we should be focused on is that this month students across the country are making their way back to college campuses. When more Americans pursue their degrees beyond high school, it is actually good for our country. It strengthens the middle class. It strengthens the workforce that needs to compete in the 21st century global economy. So here in Congress what I believe we should be working on are ways to help more students earn a degree and gain a foothold into the middle class.

Unfortunately, instead of keeping students' options open to help them succeed, we are facing another deadline and another artificial crisis. If we do not act in the Senate, the Perkins Loan Program will expire after tomorrow. That means that more than 100,000 students will no longer be eligible for this assistance over the next year. That is going to leave a lot of students in this country in the lurch.

Without Perkins loans, students might have to take out private loans that have higher interest rates and fewer repayment options. So students would end up with a heavier burden of student debt or they might decide not to enroll in the first place. That is the exact opposite outcome we need for the future of this economy.

In my home State of Washington, more than 15,000 students received Perkins loans last year. That includes about 4,700 students from the University of Washington. I want to make sure the next class of students has the same opportunity so they can better afford college.

We in Congress need to supply students with more support to manage rising college costs, not less. I am hopeful that today we can extend the Perkins loan for 1 year while we work to reauthorize the Higher Education Act because there is no reason to block this bipartisan legislation that would give our students some certainty for next year.

The Perkins Loan Program gives students with financial needs three things that private loans do not. The loans are low cost. They do not accrue interest while a student is enrolled and for 9 months afterward. That can reduce student debt by hundreds or even thousands of dollars. The loans provide flexible repayment terms, and they also give those who are interested in the public sector generous forgiveness options.

The House Representatives has already acted to extend this program for 1 year. We should do the same before the clock runs out.

I am so glad this effort to extend the Perkins Loan Program has strong bipartisan support in the Senate. It would provide new students with some certainty for the current school year. Today, students face unprecedented challenges in financing their education. The cost of college has skyrocketed, and many students are struggling under the crushing burden of student debt. Preventing the Perkins Loan Program from expiring will not solve all of their problems. I hope we can continue this bipartisan work on ways to make college more affordable and rein in student debt.

Passing this bill to extend the Perkins Loan Program is a step we can take so students don't have the rug pulled out from under them. There is no reason students should have to face this uncertainty and there is no reason we shouldn't be able to pass this by unanimous consent.

I know firsthand how important education is for families and for our Nation's middle class. When I was 15, my dad was diagnosed with multiple sclerosis and, in a few short years, he couldn't work any longer. Without warning, my family had fallen on hard times, but instead of falling through the cracks, my brothers and sisters and I got a good public education at our schools and we had a country at our back that helped make sure we were able to go to college with student loans and what is now known as the Pell program. My mom got the skills she needed to find a better paying job at Lake Washington Vocational School. So even though we faced some hard times, we never lost hope that with a good education we would be able to find our footing and earn our way to a stable middle-class life.

Students at colleges and universities across the country today are looking now to us to make sure they have a solid pathway into the middle class. So I urge my colleagues to support extending this program to make sure students have the financial aid tools they need so they can build their skills, grow our economy, and help lead the world in the 21st century.

Thank you, Mr. President.

I yield the floor.

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