Harkin Statement on Senate Failure to Adopt Student Loan Rate Fix
Wednesday, July 10, 2013
WASHINGTON—Today, Senator Tom Harkin (D-IA), Chairman of the Senate Health, Education, Labor and Pensions Committee, released the following statement after a Harkin-sponsored measure that would return federal student loan interest rates to 3.4 percent for one year failed to clear a procedural hurdle in the Senate.
“I am deeply disappointed that my Republican colleagues have again voted down our attempt to keep student loans affordable for borrowers. With college costs rising and student debt at historic levels, now more than ever, we must ensure that students are able to afford a college education. Any plan that ties student loan interest rates to the market but omits the historical front-end cap on loans—designed to protect students should interest rates skyrocket—cannot and will not be passed by this Senate.
“I firmly believe that we should not rush to put into place a plan that we have not fully examined, but remain willing to continue negotiating towards a solution, and I am hopeful that we can work together in a bipartisan way to develop a plan that keeps interest rates affordable for students not only now, but in the future.”
- Alexander Statement on Obama Administration Announcement on Contraception Mandate [Ranking Member]
- Harkin, Murray Announce Release of New GAO Report on Education for Homeless Children and Youth Program [Chairman]
- Senators Release Discussion Draft of Bill to Speed FDA Review of Life-Saving Sunscreen Ingredients [Chairman]
- Senators Release Discussion Draft of Bill to Speed FDA Review of Life-Saving Sunscreen Ingredients [Ranking Member]
- Alexander: Gallup Poll Shows Americans Don’t Want a National School Board [Ranking Member]
- Alexander: IRS Mishandling of Medical Device Tax Hurts Tennessee Companies, Costs Jobs [Ranking Member]