SENATOR COLLINS' STATEMENT ON STUDENT LOAN INTEREST RATES

            WASHINGTON, D.C.-U.S. Senator Susan Collins today called on Congress and the President to work together to prevent student loan rates from doubling for 7.4 million students.  Senator Collins says this should not be a political issue, and instead all sides should agree on a responsible way to pay for this bill.

            "Congress and the President must act to prevent the doubling of interest rates on future student loans.  Having worked at Husson University in Bangor, I know first-hand how critical student loans and Pell grants are for many Maine families, particularly for the most economically disadvantaged students. 

            "The question is how to responsibly pay for an extension that would keep these rates low.  The Majority Leader's bill would pay for it by hiking taxes on small businesses - our nation's job creators. With millions of Americans still out of work, this approach makes no sense. It is unfortunate that rather than working together to find a workable solution, this has become yet another example of election year politics that is frustrating to so many Americans.

            "The bottom line is we must put aside politics and agree on a responsible way to pay for an extension that would keep student loan interest rates from doubling and prevent an unsustainable burden on students and their families."

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