Student Loans and the Economy

Floor Speech

Ms. FOXX. Mr. Speaker, just this morning I met with student leaders from North Carolina who are visiting the Capitol as part of the 2013 Electric Cooperative Youth Tour. One student asked me a question about what the House of Representatives is doing to advance education and job creation. It was a perfect question given our House Republican plan for jobs and leadership to keep Federal student loan interest rates from doubling on July 1.

Almost 12 million Americans are struggling to find work; 4.4 million have been out of work for more than 6 months. Young people and recent college graduates looking for jobs are disproportionately impacted in this economy. Washington shouldn't be adding additional stress to students' job hunts. But on July 1, if the President fails to lead and the Democrat Senate fails to act, student loan interest rates will double for student borrowers.

The House agrees with students, #Don't Double My Rates, and we have acted to stop the increase.

It's time for the Senate to do its job. Students are depending on them.

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