Rubio Discusses Student Loans On The Senate Floor Rubio: "The interest rate is a problem. Not having a job is a catastrophe. The interest rate could be zero, but if you don't have a job how are you going to pay it?
BigNews.Biz - May 10,2012 - Rubio Discusses Student Loans On The Senate Floor
Rubio: "The interest rate is a problem. Not having a job is a catastrophe. The interest rate could be zero, but if you don't have a job how are you going to pay it? And that's the number one issue facing these graduates, and no one is doing anything about it."
Senator Marco Rubio
U.S. Senate Floor Speech
Thank you, Mr. President. I have followed with great interest this week the conversation in the Senate about student loans, the bill that weíre currently on, to proceed to a bill on student loan interest. Iíve followed it with great interest for a couple reasons: first of all in the state of Florida obviously, as across the country, there are thousands, maybe hundreds of thousands of people that are either on student loans and are paying them back or are relying on them to go to school in the future. So, it is clearly an issue that affects the state of Florida where I come from. And I have a personal interest in the student loan issue as well. I think Iíve said this on the floor before. My parents worked very hard, but they were never able to save enough money to pay for my college. And so I relied on grants and on loans, both for undergraduate education but especially for my law school education.
I came back to Miami to go to law school and Iím glad I went to the University of Miami. If theyíre watching, Iím proud to have gone there. I think the education I got there, my legal education, was very good. It also happened to be very, very expensive, and I relied on student loans to be able to pay that. So much so that when I graduated from law school in 1996, I graduated with a law degree and a significant amount of student debt that I had accumulated throughout seven years of studies. In fact Iím still paying one of those loans today. I think, I may be wrong, but I know of only one other senator who is paying off student loans right now. Iíve paid, as I joked in the past, about $723 a month to somebody named Sallie Mae, who is, all joking aside, the servicer who collects on these loans.
Itís an issue that I understand and itís an issue that I care about, both on a personal level but also because of the people that I represent. Itís also an issue, by the way, this week thatís allowed me to maybe use it as a point of illustration to the people back home that are watching this debate. After my first year here, one of the questions that people always ask me is, ďWhat is it like in the Senate?Ē And let me begin by saying Iím honored and privileged to serve here. There isnít a day that I donít walk into this building and even into this very