Hoyer to Students: Reducing Deficit Shouldn't Be Your Problem

By Kirsten Petersen

Congressman Steny Hoyer (D-5th) emphasized the value of a college education to the health of the American economy Tuesday afternoon in a meeting with students from the University of Maryland and Bowie State.

More than 15 students and recent alumni attended the discussion, which took place at UMD’s Stamp Student Union.

“This is not so much for you as it is for our country,” Hoyer said. “It is so critical that you young people get the best education that we can give you. It’s about investing.”

The discussion was prompted by Congress’s failure to prevent interest rates on subsidized Stafford loans from doubling. The interest rates on all new such loans jumped from 3.4 percent to 6.8 percent on Monday.

Although college affordability and interest rates have always been a debate for Congress, Hoyer said it’s different this time.

“This is not a new problem. The magnitude of it is new,” Hoyer said.

Hoyer told students that the government should not be asking young people to solve a problem that previous generations started.

“Reducing the deficit ought not be your responsibility. It ought to be my generation’s and your parents’ generation’s,” Hoyer said.

Students shared personal stories about their financial situations and expressed concern for their siblings who would be affected by the doubling interest rates.

Reanda Samuel, who will be a junior criminal justice major at Bowie State this fall, is the youngest of 12 children. After supporting six of her siblings through college and now dealing with personal health conditions, Samuel’s parents cannot cover her college costs.

“Loans are what put me through college,” Samuel said. “I have to pretty much find a way to make it for myself.”

Samantha Zwerling, the Student Government Association president at the University of Maryland, said that students need elected officials to make a final decision on interest rates.

“We’re having this fight over interest rates, not even the crux of making college affordable,” Zwerling said. “I think it’s important for students to see a permanent deal.”

Hoyer agreed and admitted that legislators are putting off a lasting solution.

“We’ve been doing too many things on a temporary, short-term basis,” Hoyer said. “Although we talk a lot in the abstract, ultimately the policies we adopt are discreet in their impacts on individuals.”

Hoyer said he is optimistic that Congress will address interest rates when it returns to session after the Fourth of July holiday.