Pelosi Statement on Republican Votes to Block Action on Student Loan Debt
Contact: Drew Hammill, 202-226-7616
Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement after Republicans in the House and Senate voted in each chamber to block consideration of The Bank on Students Emergency Loan Refinancing Act, a bill to reduce the burden of student debt:
“Today, Republicans in the House and the Senate once again showed their contempt for the millions of American burdened by crushing student loan debt. By blocking action on this growing and urgent crisis, Republicans have once again stood with millionaires over young Americans.
“Student loan debt is weighing down a generation of young Americans and stymying economic growth. Congress must act. The Bank on Students Emergency Refinancing Act, introduced in the House by Congressmen John Tierney and George Miller, would allow millions of borrowers to refinance their existing student loans at lower interest rates, reducing a heavy drag on their futures as they seek to start a family, buy a house, launch a business, or save for retirement.
“Quality higher education should be available to every American – not just a luxury for the privileged few. It is time for Republicans to join Democrats in working to fulfill the promise of a quality, affordable education for all Americans. In doing so, we can create jobs, grow the economy, and secure our nation’s competitiveness for years to come.”
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