STATEMENT: Generation Progress, Rock the Vote, and United States Student Association on President Obama’s Signing of Bipartisan Student Loan Deal
Generation Progress, Rock the Vote, and the United States Student Association responded today to President Obama’s signing of the Bipartisan Student Loan Certainty Act, which reduces student loan interest rates immediately for millions of Americans.
Anne Johnson, Executive Director of Generation Progress; Amanda Brown, National Political Director of Rock the Vote; and Kalwis Lo, Legislative Director of the United States Student Association; released the following statement:
By signing this bill into law today, President Obama ensured that millions of Americans won’t face higher interest rates on their student loans this fall. The bipartisan bill will save the average borrower $1,500 over the life of each loan taken out this fall.
Through vigorous debate in Washington, our elected officials were able to find a solution that puts hardworking students and their families first. This law is crucial for ensuring that the 11 million Americans who rely on Stafford loans can afford to pay for college this fall, and it keeps higher education within reach for many who desire it.
We will continue to urge Congress and the Obama administration to take a serious look at college affordability and work to find ways to keep a degree accessible and introduce meaningful protection for our students. Today’s legislation is an important step toward that goal, and we look forward to working together to address the issues of student debt and college affordability.
We applaud President Obama’s leadership on this issue and the bipartisan effort to keep higher education accessible and affordable.
To speak with an expert, please contact Brian Stewart at bstewart@americanprogress.org or 202-481-8178.