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Cole Comments on Student Loan Relief

April 27, 2012
Press Release

WASHINGTON, D.C. – Congressman Tom Cole (OK-04) released the following statement after House passage of the Interest Rate Reduction Act, which will extend the current 3.4 percent interest rates on federal student loans for one year. The cost of the bill is paid for by eliminating unnecessary spending in the president’s health care law.

"In this challenging economy, a college degree is both more important and more expensive than ever. Keeping student loans more affordable gives college students a better chance to succeed, and that's good for the economy. Unlike the Democratic proposals, this legislation helps students deal with rising tuition costs without requiring taxpayers and businesses to foot the bill. President Obama should embrace this reasonable solution."