WASHINGTON, DC – U.S. Congressman Pete Sessions (R-TX), Chairman of the House Rules Committee, today released the following statement regarding passage of H.R. 1911, the Smarter Solutions for Students Act of 2013:
“Currently, student loan interest rates are dictated by short-term political fixes, which unnecessarily create volatility in an already complicated market. Today the House approved legislation that will strengthen our federal student loan programs and provide long-term predictability to students, borrowers, and taxpayers.
“Tying student loan rates to market rates is a common sense solution to a government-created problem. This legislation will benefit students and their families by providing certainty and simplifying the loan process. I’m pleased that the House has acted to put student loans back into the free market to help all North Texans access quality and affordable education.”