By Scott Peters October 2013 Newsletter
Since I took office, After a lack of action by House leadership allowed the rates to double to 6.8% on July 1st, I joined my colleagues later in July to pass a bipartisan compromise (H.R. 1911) that lowered the federal student loan interest rates back to more reasonable levels.
However, our work is not done. The cost of higher education has skyrocketed over the past decade. Congress must now address college affordability. We must find a way to reduce the rising costs of tuition at public universities so that college remains accessible to every kid that qualifies and is committed to investing in their own future.
I’ve heard from countless working-class families and students who are concerned about access to college. Families should be able to plan for and send their children to college without being saddled with life-long debt. If America is to remain competitive in the global economy, the private and public sectors must find ways to fix this very critical problem.
I myself am a product of student aid. My father put four of us through college on a minister’s salary because we worked hard and were able to take advantage of low-cost loans and federal work study programs. America invested in me, and I want future generations to have the same opportunity.