Loebsack: House Vote on Student Loan Interest Rates is a Charade Print
News Releases - Education & Schools
Written by Joe Hand   
Tuesday, 01 May 2012 12:46

Washington, D.C. – Congressman Dave Loebsack today released the following statement after the House voted on Republican-led legislation, which the President has already stated he will veto, to try and look as if they are concerned about college accessibility.

“Today’s vote is a shining example of how low Republicans will go to further their political games instead of actually accomplishing anything for Iowa families.  Just last week Republicans voted en mass to allow the student loan interest rates to double, and now hide behind a vote on a bill they know is going nowhere.  Iowa families can’t afford these games.  Unfortunately, it looks as if Republicans want to push students to the edge, just like they did with the economy. As much as Republicans would like, they can’t have their cake and eat it too.

“As someone who has helped craft and pass legislation to expand access to college, it is sickening to watch this unfold.  Congress should not be building more hurdles for young people to get the education and skills they need to thrive, and they should not be making it even harder for Iowa families to afford to send their kids to college.  I personally know what it is like to work hard and rely on financial aid to pay for tuition.  No student should be turned away from attending college because he or she cannot afford it and no student should have to face a Republican-made roadblock, which is exactly what today’s vote creates.”

Loebsack is a cosponsor of two pieces of legislation, H.R. 4816 and H.R. 3826, which would ensure the increase does not occur.  As a member of the Education and the Workforce Committee, he has also championed numerous pieces of legislation to increase access to higher education, including:

·         College Cost Reduction and Access Act (CCRAA) Loebsack helped craft and pass this legislation, which makes college more affordable and accessible for all Iowans by increasing the maximum Pell Grant scholarship and expanding eligibility;

·         Student Aid and Fiscal Responsibility Act, H.R. 3221 Loebsack was a cosponsor of this bill, which will save American taxpayers $61 billion by making the student loan process more efficient.  The bill further expanded the maximum Pell Grant available from $5,550 in 2010 to $5,975 in 2017, granting Iowa students more than $291 million for higher education. This bill was the largest single investment in student aid in America’s history, and will make college more accessible, transform the way student loan programs operate and strengthen community colleges.

Loebsack has urged the House Speaker and the Chairman of the Education and the Workforce Committee to move forward a bill that will actually stop the increase.  A copy of the letter can be found here.

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