Some of the great historic moments of American policy – the creation of the land-grant colleges, the GI Bill, providing student loans – were directed toward increasing access to higher education.  This week, Republican leaders in the House passed a bill over my objections that would reverse those decades of progress.

The House-passed bill would, in effect, transform the federal government into a Wall Street bank, charging students high and wildly variable interest rates while banking billions in profits.  Rather than asking the very wealthy to contribute more in taxes, the authors of this bill would instead treat college students as a back-door source of government revenue.

The nonpartisan Congressional Research Service estimates that, for a graduate who has about $19,000 in subsidized student loan debt, the Republican plan would increase total interest payments by $4,881, relative to today’s low, fixed rates.

A better bill, which I have cosponsored, would lock in today’s low rates for student loans that I helped establish – with the goal of advancing the national interest, rather than collecting interest from students.  I am hopeful that the Senate will reject the House bill and insist on a compromise along these lines.

The 2013 Student Advisory Committee

In considering the issues before Congress, I draw upon the opinions and perspectives of Central New Jersey residents – including those of my Student Advisory Committee.

The committee consists of high school students appointed by principals throughout Central New Jersey, and it meets occasionally to consider public policy issues.  I also ask the students to let me know of matters of concern in their schools and communities and to serve as leaders to involve other students in activities of public concern.  The 2013 committee talked about the federal budget and about greenhouse gases in our atmosphere and undertook exercises to design their own preferred federal budget and optimal energy mix.  Information on this year’s committee members is available online.

Acquiring a Flag Flown Over the Capitol

As we honor those who died in service to our country this Memorial Day, I want to remind you that I can help you acquire, at cost and with minimal shipping charges, an American flag that has flown over the United States Capitol.

An American flag can be flown in recognition of a special occasion, in honor of a friend or a member of the armed services, or for other reasons that you may choose. Thanks to recent upgrades to the U.S. House website system, I can now accept online credit card orders for flags.

If you have any questions or need assistance with this service, please do not hesitate to contact me at holt.house.gov/contact or 1-87-RUSH-HOLT (1-877-874-4658).

Sincerely,

Rush Holt
Member of Congress