Providing for Congressional Disapproval Under the Rule Submitted By the Department of Education Relating to ``Improving Income Driven Repayment for the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan (Ffel) Program''
Floor Speech
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Mrs. McBATH. Mr. Speaker, I thank Ranking Member Scott and his staff for their work on this issue.
I rise today on behalf of the thousands of working families in my district who are struggling under the burden of seemingly endless student loan debt.
A college credential continues to be the surest path to economic security, and we must help to make sure that every student, regardless of their background or their ZIP Code, has the resources necessary to achieve their dreams through education.
That means setting our students up for success, not confining them to a lifetime of making payments that barely cover the interest on their loans.
The American people who stand to be harmed by this bill are more than just numbers. They are not just statistics. These are real live human beings with real life experiences.
I would remind my colleague, Mrs. McClain of Michigan, that in her district, there are at least 9,900 borrowers enrolled in the SAVE plan, which will significantly lower their monthly payments.
If Republicans succeed and this bill undoes the income-driven repayment plan, more than 5 million student loan borrowers enrolled in the plan will see their monthly payments go up.
These are real people. They are nurses. They are engineers. They are teachers with families and mortgages and groceries that they need to buy who are going to lose the opportunity to pay off their loans in a way that really fits their budgets.
The American people are tired of these empty and broken promises. They are tired of being asked to give more and more of themselves while it gets increasingly expensive to acquire the skills necessary just to make a decent living.
Mr. Speaker, I encourage all of my colleagues to oppose this bill.
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