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Coats & Donnely Statements on Student Loan Reform Legislation

July 24, 2013
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07/25/13 Senator Dan Coats (R-Ind.) Wednesday released the following statement after voting for a bipartisan student loan reform fix:

“A long-term fix to student loan interest rates is vitally important for America’s young people,” said Senator Coats. “This bipartisan proposal is market-based and will allow students to take advantage of low interest rates while protecting taxpayers. Given the economic challenges already facing young Hoosiers, I am hopeful that the House will quickly pass this legislation and the president will sign it into law.”

  Senator Joe Donnelly released the following statement after voting in favor of the Senate’s bipartisan plan to lower student interest rates.  The proposal passed the Senate by a vote of 81 to 18.

“In our competitive economy, college and other higher education opportunities are more important than ever.  That is why I think it is important to lower student loan interest rates.  I voted in favor of the bipartisan proposal today because it would reduce rates on all student loans, not just subsidized Stafford loans, while putting in place a cap on how high rates can grow.  I also support the fact that this bill would require a report on the costs of administering the federal student loan program so we can make certain that future rates reflect the best deal for students.  I look forward to continuing to work with my colleagues on both sides of the aisle to find a way to make college more affordable because Hoosiers should not be burdened with unmanageable debt in order to obtain a college degree.”

 

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3 Responses to “ Coats & Donnely Statements on Student Loan Reform Legislation ”

  1. Thor on August 5, 2013 at 3:05 pm

    If the government is running it…good luck with that affordability thing. Once you need to fund a bureaucracy profitability is out the window.

  2. BrianSmith999 on August 1, 2013 at 6:51 am

    It’s very important for young people that the rates would be acceptable. The most important nowadays is education cause without good education you won’t get a good job. But the rates are so high that most of students can’t get student loan or they can get it but they can’t pay back it. Some of them taking student loans don’t have enough money for their needs and they take Yukon online loans . I don’t know if it is reasonable to take two loans: one for education and for your needs, but if so many people do this way perhaps it worth it. I hope that the rates for student loans won’t be o high as it is now ad that students will have opportunity to ay back all their loans in time.

  3. Thor on July 26, 2013 at 4:14 pm

    The best long term fix to keeping rates low is to get the government out of funding student loans. They only server to drive up the costs for everyone because they are guaranteed money for the institution. They know they can get the money so they charge it.