A Largely Symbolic, But Expensive, Gesture

Recent statistics show that the 3rd District of Utah has more kids than any other congressional district in the U.S.  I am committed to making college as affordable and accessible as possible, but the Democrat's bill will do neither.  It lowers the interest rate slightly each year on federally subsidized student loans for five years, only to then revert back to the current rate.  In fact, the lowest rate is only in effect for six months.

We need to be working to control the real costs of higher education and removing barriers to entry into college, not making largely symbolic interest rate adjustments that only come into play after a student has graduated.

The proposal we voted on yesterday is little more than a political gesture that will do precious little to enhance educational opportunities for our young people, but will cost the taxpayers a pretty penny.

More in Finance

CFPB releases framework for payday loan rules

Read more »