Courtney pushes House to consider legislation to prevent student loan interest rate increase

WASHINGTON, DC – Congressman Joe Courtney today pushed the full House of Representatives to immediately consider his legislation, The Student Loan Relief Act, H.R. 1595, to prevent the interest rate in subsidized Stafford student loans from doubling for two years. The bill would defuse the immediate trigger, and buy time for a long-term compromise to reduce student loan debt. As of today, the House has just 53 calendar days and 24 days in session to prevent the interest rate from doubling on July 1.

"With student loan debt increasing exponentially each year, preventing further debt accumulation and acting before the July 1 deadline should be a no brainer," said Congressman Courtney. "We have evidence that student loan debt is affecting life decisions for people today, preventing them from buying houses and even postponing decisions to have children. If we do not rein in this debt, we are risking our economic recovery with our inaction."

Click the link below to watch Congressman Courtney's statement supporting moving to immediate consideration of the bill.

Congressman Courtney urged the House to cease consideration of H.R. 807, a bill that would take away government flexibility to pay bills, and instead immediately consider the pressing student loan legislation. The House postponed a vote on Courtney's motion until later in the legislative day.

The Student Loan Relief Act currently has 125 cosponsors.