DeLauro Statement On Republican Bill To Make College More Expensive

Statement

Congresswoman Rosa DeLauro (D-CT) announced her opposition to legislation being voted on by the House of Representatives today that would make college more expensive for millions of students. The bill would increase interest rates on student loans, making higher education less attainable for working-and middle-class students.

"Education is the great equalizer in American life. It opens doors of opportunity to jobs, higher wages, and a better life. Only by keeping college education affordable and available can we continue to have a strong middle class and good job growth. Instead of further adding to students' debt, we should be working harder to make college affordable. That begins with making sure student loan interest rates do not double on July 1.

"The bill before the House of Representatives today would make college more expensive by forcing students into loans with higher, ever-changing interest rates. This will only exacerbate the economic insecurity felt by working-and middle-class families and prevent many people from pursuing higher education entirely. This bill will make college education less affordable, less accessible and farther out of reach for middle class students, putting their futures at risk."

DeLauro is the senior Democrat on the subcommittee responsible for funding the Department of Education. The bill being voted on today, H.R. 1911, would allow interest rates to change on a yearly basis, even if the money has already been borrowed. College loan debt is already climbing higher, reaching an all-time peak of $1.1 trillion this year.

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