July 24, 2013
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.”