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The Conscience of Congress
Since its establishment in 1971, the Congressional Black Caucus (CBC) has been committed to using the full Constitutional power, statutory authority, and financial resources of the federal government to ensure that African Americans and other marginalized communities in the United States have the opportunity to achieve the American Dream.
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Tri-Caucus Statement on GOP's Increase in Student Loans
Washington, DC,
May 24, 2013
Yesterday, Congressional Black Caucus (CBC) Chair Marcia L. Fudge, Congressional Hispanic Caucus (CHC) Chair Rubén Hinojosa (TX-15), and Congressional Asian Pacific American Caucus (CAPAC) Chair Judy Chu (CA-27) released the following statements on H.R.
FOR IMMEDIATE RELEASE May 24, 2013 Contact: Ayofemi Kirby Tri-Caucus Statement on GOP’s Increase in Student Loans Yesterday, Congressional Black Caucus (CBC) Chair Marcia L. Fudge, Congressional Hispanic Caucus (CHC) Chair Rubén Hinojosa (TX-15), and Congressional Asian Pacific American Caucus (CAPAC) Chair Judy Chu (CA-27) released the following statements on H.R. 1911, which would attempt to reduce the federal deficit by saddling students and parents with additional student loan interest charges. According to the Congressional Budget Office, the bill would charge millions of students and families $3.7 billion over the next decade, in additional interest payments relative to current law. Marcia L. Fudge (OH-11), CBC Chair: “Congress has a responsibility to ensure federal assistance for education is both accessible and affordable. This bill will force students and their parents to pay exorbitant interest rates for their education. This bill is being used as a tool to pay down the deficit while there are other viable sources of revenue and cuts that need to be considered. With passage of H.R. 1911, this Congress continues the trend of attempting to address our nation’s fiscal problems on the backs of those who are most in need of our assistance and support. Students use these loans to improve their lives through education. We talk about creating ladders of opportunity, but this creates a ladder to inconceivable debt. The Congressional Black Caucus opposes this bill. It is neither the answer to fixing our deficit or helping our students achieve their version of the American Dream.” Rep. Rubén Hinojosa (TX-15), CHC Chair: “There is no substitute for a quality education and for Hispanics, the importance of education is culturally engrained. In fact, the number of Hispanic high school students entering a two- or four-year college in 2013 skyrocketed to 69%, according to the Pew Hispanic Center. Clearly, now is not the time to burden these young minds, who are hopeful to join to the workforce, with prohibitive and cumbersome loans that can hinder their potential. Let’s help our country’s youth with the necessary resources so that they can fully contribute to society.” Rep. Judy Chu (CA-27), CAPAC Chair: “This misguided attempt at deficit reduction is not just unfair – it’s flat out wrong. H.R. 1911 undercuts the aspirations of students to pay down a federal debt that they had no role in creating. Student loans exist to help the youth of today cultivate the skills to become the leaders of tomorrow. By saddling them with added debt right out of the starting gate, Congress is making it harder for these students to achieve the American dream and contribute to the good of our nation. Education is an investment in our future. This bill would make that investment harder for countless Americans while attempting to balance our budget on the backs of those who can least afford it.” ### |
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