[Congressional Record Volume 149, Number 155 (Thursday, October 30, 2003)]
[Extensions of Remarks]
[Page E2162]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              FEDERAL EMPLOYEE STUDENT LOAN ASSISTANCE ACT

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                               speech of

                            HON. FRED UPTON

                              of michigan

                    in the house of representatives

                       Tuesday, October 28, 2003

  Mr. UPTON. Mr. Speaker, I commend my colleagues for this needed 
legislation, which ensures the federal government's deep commitment to 
a highly trained, diverse workforce. But we should go even further. In 
order to best maximize federal government resources, we should 
encourage competition in all aspects of the student loan program, 
including consolidation loans.
  In order to instill such competition, we will need to make sure that 
during the reauthorization of the Higher Education Act, which is 
currently moving through the Education and the Workforce Committee, we 
repeal the single holder rule. I want to thank Chairman Boehner and 
Congressman McKeon, for their efforts to keep college costs under 
control during consideration of this important legislation. It will be 
part of my commitment to them as well as Federal agencies, students and 
families everywhere that they can have the benefit of competition from 
the more than one thousand qualified lenders in the program when they 
consolidate their loans and, thus, allow them to take advantage of 
historically low fixed interest rates.

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