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STATEMENT: Generation Progress Director Anne Johnson and President of Rock the Vote, Heather Smith, on Passage of Bipartisan Student Loan Deal by Senate

Washington, DC - July 24, 2013

Anne Johnson, Director of Generation Progress, and Heather Smith, President of Rock the Vote, responded today to the Senate’s passage by an 81-18 vote of the Bipartisan Student Loan Certainty Act which reduces student loan interest rates.

Anne Johnson, Director of Generation Progress, and Heather Smith, President of Rock the Vote, released the following statement:

Today’s vote on student loan rates was about one thing: Saving money for the millions of young people and families who are counting on these loans to help pay for college this fall. In recent months, there has been a vigorous debate in Washington about the best ways to keep higher education affordable. As each new student loan plan was introduced, we provided clear and honest assessments of their impact on college affordability and we strongly urged members of both parties to make key changes to improve their bills and create meaningful protections for students.

The bottom line is that our generation’s economic future is at stake today. Student debt is holding millions of young people back, and they cannot wait any longer. Passing the Bipartisan Student Loan Certainty Act  today will lower interest rates on student loans for the nearly 11 million students relying on them this year, bring much-needed stability and savings to them, and provide a critical boost to the economy.

While there is more work to be done on addressing college costs, the Senate took a strong step forward for young people today by passing this bipartisan bill. We now urge the House to move quickly to pass this bill and send it to the President’s desk for his signature.