CASTRO STATEMENT ON STUDENT LOAN RATE VOTE
Washington, D.C. –Texas Congressman Joaquin Castro released this statement following the U.S. House of Representatives vote to address the doubling of student loan rates:
“Education should bolster our economy and student debt should not cripple our workforce. In Texas, tuition and fees at public institutions have increased over 90% in the past decade. This has caused students to increasingly rely on financial aid to supplement their education costs. On average, Texans have student loan debt of almost $23,000.
Today, Congress finally addressed the doubling of student loan interest rates. Yet, this is not enough to ensure that all of our students have access to an affordable education. We must do more. The first bill I filed, the Student Aid Expansion Act, would make sure state-funded student loans—like the ‘B-on-Time’ loan in Texas—are not subject to burdensome regulations. Access to a high quality education is the surest path to success, and a highly skilled and well-educated workforce is the key to maintaining the United States' economic strength in this increasingly global economy. I call on my colleagues to continue to support efforts to increase access to affordable higher education.”