College Affordability

Floor Speech

Ms. DelBENE. Madam Speaker, I rise today to speak on the importance of college affordability.

This is very personal for me. Growing up, my parents struggled financially, but with student loans and financial aid, I was able to go to college and get a great education. I would not be standing in this Chamber today otherwise.

I am pleased that we will be voting on a bipartisan bill this week that will reverse the doubling of student loan rates that took place on July 1. The bill is a compromise, so it's not perfect. It doesn't include all of the protections that I believe our students need, like lower interest rate caps to keep costs down over the long term, but it does reduce interest rates for over 7 million undergraduates taking out loans this year, and it will save a college student with Stafford loans $3,300 compared to today's rates.

This bill is a start, but it isn't enough. I call on my colleagues to continue working together on ways to bring down the costs of college for working families. Doing so will expand opportunity for all, spur long-term economic growth, and strengthen our middle class.

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