Alexander Says His Student-Loan Bill Was “the Best Way to Get a Result”

Posted on May 24, 2012

WASHINGTON – U.S. Senator Lamar Alexander (R-Tenn.) today released the following statement on the Senate’s rejection of his bill to keep rates on 40 percent of student loans from doubling in July:


“On July 1 of this year, the interest rate on 40 percent of new student loans will go from 3.4 percent to 6.8 percent, and our friends on the other side stuck with their usual solution to any problem—more taxes on small businessmen and women. My solution was to give back to students the savings that they should have gotten when the other side took over the entire student loan program.”


Alexander continued: “Instead of giving the students the benefit of those savings, they spent it on government--$8.7 billion on the health care bill. We want to give that money back to the students to pay to freeze the rate. “


“This is the same as the House-passed bill. A vote ‘yes’ on the House-passed bill will permit us to send our bill to the House, they'll pass it, send it to the president, and the problem is solved.”



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