PHILADELPHIA, PA — Democrats in the United States Senate laid out a policy agenda today addressing the student debt crisis millions of Pennsylvanians face. They called for a new legislative package with tuition free community college, increased access to Pell Grants and loan refinance options – which would help 1.2 million Pennsylvanians pay lower interest rates. These are commonsense proposals that especially benefit the Keystone State, which has the third highest average rate of student loan debt in the nation.
“Senate Democrats are fighting for hardworking Pennsylvanians who rightly view higher-education as a means to getting ahead,” said Preston Maddock, spokesman for the Pennsylvania Democratic Party. “Their legislative package is a step in the right direction and it highlights the choice voters face in this year’s Senate race. Senator Pat Toomey and his fellow extremist allies in congress have consistently stood in the way of reforms to make college more affordable for Pennsylvanians, and voters will be holding him accountable for this part of his record come November.”
BACKGROUND:
Toomey Voted For The FY 2012 Ryan Budget. In May 2011, Toomey supported a “yes” vote on a: “Reid, D-Nev., motion to proceed to the concurrent resolution that would allow $2.859 trillion in new budget authority for fiscal 2012.” The motion was rejected 40-57. AFP Scorecard, Accessed 11/14/15; H.Con.Res. 34, Vote 77, 5/25/11]
- FY 2012 Ryan Budget Contained Largest Reduction In Pell Grants In History. “The budget lays out little in terms of cuts to specific programs, instead simply decreeing caps on levels of spending. But one cut is explicitly proposed in the document — a cut to the Pell Grant program, which provides college tuition assistance to low-income students. […] If implemented, this would be the largest reduction in Pell Grants in history, more than eight times higher than the previous record, which was a $100 reduction in the maximum award in 1994. These cuts ‘will reduce the number of low income students receiving Bachelor’s degrees each year by about 61,000.’” [ThinkProgress, 4/5/11]
- Headline: “House GOP Budget Slashes Billions From Pell Grants, Bumps Millions Of Students Out Of The Program” [ThinkProgress, 4/5/11]
Toomey Voted Against Legislation To Allow Students To Refinance Federal Student Loans. In June 2014, Toomey voted against legislation to allow students to refinance their Federal student loans that, according to CQ, was offset “by requiring millionaires to pay a federal tax rate of at least a 30 percent.” [Rocky Mountain Collegian, 6/18/14; CQ, 6/11/14; S. 2432, Vote 185, 6/11/14]
More Than 1.2 Million Pennsylvania Student Loan Borrowers Would Benefit From Student Loan Refinancing Proposal. According to the Department of Education, 1,223,000 Pennsylvania student loan borrowers would benefit from legislation that let them refinance their student loans at lower rates. [U.S. Department of Education, 2014]
Average Debt For Pennsylvania Class Of 2014 Graduates Was Nearly $35,000, The Third Highest In The Nation. According to TICAS, the average debt for Pennsylvania class of 2014 graduates was $33,264, the third highest in the nation. [TICAS, Accessed 11/16/15
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