DeLauro Statement on Republican Bill to Make College More Expensive

Would Make It Harder For Middle Class Students to GetHigher Education

WASHINGTON, DC—Congresswoman Rosa DeLauro (D-CT) announcedher opposition to legislation being voted on by the House of Representativestoday that would make college more expensive for millions of students. The billwould increase interest rates on student loans, making higher education lessattainable for working-and middle-class students.

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

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

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