Student Debt

Floor Speech

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Ms. BALDWIN. Mr. President, I come to the floor today because I think that higher education should be a path to prosperity, not a path to suffocating debt; however, today in America we have a student debt crisis that demands action from Washington because it is holding back an entire generation and creating an economic drag on the growth of our country.

Unfortunately, the Republican majority here in the Senate continues to ignore this crisis at a time when we really should be working across the party aisle to put in reforms that make college more affordable for students and their families who are struggling and in desperate need of action. That is why last week Senate Democrats officially launched our ``In the Red'' campaign in order to confront the student debt crisis and address college affordability.

Our legislative reform package includes three commonsense initiatives that deserve to be debated and deserve a vote. First, we are calling for action to address the significant loss in value of Pell grants by adjusting them for inflation; second, we are pushing to allow borrowers to refinance their existing student loans at lower rates; and third, we are making 2 years of community college or technical school free for students who are willing to work for it.

In his State of the Union Address--not the one he gave a couple of weeks ago but the one he gave last January in 2015--President Obama called on us here in Congress to make a bold investment in our Nation's students, in our Nation's workforce, and in the future of our economy by making 2 years of community college free.

In July, I answered that call and introduced legislation, the America's College Promise Act, aimed at providing students with a stronger and more affordable opportunity to gain the skills they need to compete, succeed, and prosper by making an investment in our workforce readiness, our economy, and our future. I am proud that this legislation is a pillar of the Senate Democrats' effort to reduce student debt in 2016 and to put our country on a path toward debt-free college. Learning from successes in States such as Tennessee and Oregon, the America's College Promise Act will create a new partnership between the Federal Government and States to help them waive resident tuition for 2 years of community or technical college programs for eligible students. This new partnership will provide a Federal match of $3 for every $1 invested by the State to waive community college tuition and fees for eligible students. With this legislation, a full- time community college student could save an average of around $3,800 in tuition per year.

As cochair of the Senate's career and technical education caucus, I am especially proud that this reform takes a critical step to strengthen workforce readiness at a time when America needs to out educate and compete with the rest of the world in a 21st century skills-based economy. The idea that the next generation will be able to go further and do better than the last is at the heart of the American dream, and the solutions that we are offering today deserve a vote in this Congress.

It is my hope that our colleagues on the other side of the aisle will join us in confronting the student debt crisis and supporting these commonsense reforms that not only make higher education affordable but can help give more Americans a fair shot at pursuing their dreams.

I thank the Presiding Officer, and I yield back my time.

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