Congressman Tom Cotton

Representing the 4th District of Arkansas
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Cotton Statement on Student Loan Vote

Aug 1, 2013
Press Release
Contact: Caroline Rabbitt: 202-225-3772
 
Cotton Statement on Student Loan Vote
 
Washington, D.C. – Congressman Tom Cotton released the following statement after yesterday's vote on student loan interest rate legislation: 
 
“Access to affordable higher education is not a partisan issue, it’s something all Arkansans support; frankly, it's where this debate should be focused. Higher education provided me with opportunities I might not otherwise have had. But I knew it wouldn’t be easy. My family saved for years and I worked throughout school to pay my way; like many students, it also took a combination of private and Stafford loans. Following law school, I postponed joining the Army for two years so I could repay all my loans. 
 
“Unfortunately, too many students today struggle for years to repay their loans because Washington politicians dictate student-loan rates and end up hurting students and taxpayers alike.  It’s causing tuition costs to skyrocket, leaving students buried in debt, often without jobs, and forced to delay buying a home and starting a family.  As students struggle to repay their loans—regardless of the interest rate—taxpayers are on the hook for a $100 billion bailout—a burden hard-working Arkansans shouldn’t have to bear. A better path is to repeal Obamacare, which nationalized the student-loan business, and let Arkansas’s hometown banks work with students and families to finance higher education, just as they do with homes, farms, businesses, and other loans. I'm committed to bringing affordable higher education to every Arkansan and ending the federal-government monopoly on the student-lending business."
 
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