Postsecondary Education is in Dire Straits
Floor Speech
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Ms. FOXX. Mr. Speaker, our postsecondary education system is in dire straits. Reforms are more necessary now than ever.
To start with, income-driven repayment plans have left millions of borrowers trapped under a mountain of interest. Many of these borrowers have done everything right.
They have been faithful to make their monthly payments, yet years later find they have made little to no progress on their principal. This can be extremely frustrating, especially for those who realize they have already paid back the original cost of the loan. This is the kind of problem that needs to be fixed.
It is critical that we address the structural problems that plague our postsecondary education financing system for the students of tomorrow, but it is also crucial that we address the problems it has caused for the students who have already been harmed today.
That is why House Republicans put in the work and offered a solution that fixes this broken system. That solution begins with the REAL Reforms Act.
This legislation protects the interests of students and taxpayers by providing targeted relief for borrowers currently struggling while implementing lasting reforms to ensure it doesn't happen to future borrowers.
This legislation also implements reforms to simplify the number of repayment options and caps unlimited graduate lending while ensuring college remains accessible and affordable to all Americans, regardless of their financial circumstances.
It also saves taxpayers billions by eliminating runaway forgiveness programs that disproportionately benefit wealthier households.
Together, these reforms will lower the cost of college for students, families, and taxpayers.
In contrast, President Biden's radical student loan bailout will exacerbate tuition inflation while encouraging students to go deeper into debt.
Blanket loan cancellation to the tune of $400 billion and enacting retroactive free college by expanding what were intended to be limited safety nets is fiscally irresponsible and morally indefensible.
Republicans and Democrats agree on the problems, and we must come together to work toward a solution.
For example, everyone agrees that postsecondary education should provide students and taxpayers a positive return on investment.
There is bipartisan consensus that the cost of nonrepayment can no longer fall squarely on taxpayers.
For far too long, colleges have been more focused on getting students in the door and have paid little mind to what happens once they are there or once they leave.
Again, there is bipartisan consensus that this too needs to change. It is time for Congress to come together and fix the mess created by these failed policies.
My Republican colleagues and I stand ready to work with the President and congressional Democrats to do so. Republicans Stand for Life
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Ms. FOXX. Mr. Speaker, House Republicans remain undeterred in our mission to protect the sanctity of human life and the rights of the unborn.
Today, we will pass the Born-Alive Abortion Survivors Protection Act and H. Con. Res. 3, which condemns violence against pro-life institutions and groups. By passing these two pieces of legislation, we are fulfilling the commitment we made to the American people to preserve a future that is built on freedom.
Over the last 2 years, the American people witnessed unprecedented attacks both on the unborn and those who stand for life. Today, we are turning that tide. House Republicans are sending a unified message to the entire country and the world: Our new House majority stands for life.
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