July 24, 2013

Udall Statement on Senate Vote on Student Loan Rates

WASHINGTON - U.S. Senator Tom Udall (D-N.M.) issued the following statement after voting against a measure that would allow interest rates on federal undergraduate subsidized Stafford Loans to rise to as high as 8.25 percent:

"After listening to this debate and weighing both sides, I couldn't endorse this bill. I can't support any measure that balances the budget on the backs of college students. The ability to get a college degree is too important for our students' future - and for our country's future.

"Higher education is at a tipping point, and we need a long-term plan that is sustainable and comprehensive. I will continue to work with my colleagues to achieve that goal. One principle should be clear: College should be within reach for all American families, not just the privileged few, or in the short-term. We should be investing in all students who want to earn a college degree."