Kirsten Gillibrand United States Senator for New York

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Gillibrand Statement on Senate Vote to Protect Low-Interest Student Loans

Republican Filibuster Risks Doubling Interest Rates On Stafford Loans Starting July 1

May 8, 2012

Washington, D.C. – As President Obama travels to the Capital Region today to urge Congress to take action to protect low-interest student loans and other initiatives for a strong economy and thriving middle class, U.S. Senator Kirsten Gillibrand, who was unable to join President Obama due to this important vote, issued the following statement:

“A strong economy starts with the opportunity for all to achieve their full potential. Higher education should be the ticket to get there – not to financial ruin. When we price young people out of a college education, we all pay a price. We need young people today to be the ones who develop the next big ideas that spark new businesses and create the jobs of the future.

“But by putting their politics ahead of affordable college, Senate Republicans are standing in the way of that opportunity.

“The Senate needs to do its part so more than 420,000 New York students will not be forced to pay an additional $340 million in interest. Our students can’t wait any longer.”