June 27, 2012

Charles Ellison, 202-251-8102

APSCU Reacts To News Of Senate Deal On Student Loan Rates

Washington, D.C. - Former Congressman Steve Gunderson, the president and chief executive officer of the Association of Private Sector Colleges and Universities (APSCU), today issued the following statement in response to news reports of a deal being reached between Republicans and Democrats that keeps student loan interest rates at 3.4 percent:

"APSCU fully supports efforts by Congress to keep student loan interest rates at 3.4 percent, and we applaud Republicans and Democrats for working together on this important issue to prevent them from doubling. We accept that first-time, full-time students should be limited to six years of loan eligibility; however, we urge Congress to ensure the agreement reached will not hurt veterans returning to school after military service or adults returning on a part-time basis."

"It is critically important these students have every opportunity to obtain their education free from any impediments as they are essential prospective employees for employers seeking highly-trained workers. During final negotiations, the Congress must make clear their compromise will consider the non-traditional students, such as veterans or working parents, who often take a different path to complete their postsecondary education, yet play an integral role in our economy's advancement."


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PSCUs open doors to many of the 9 million unemployed and 90 million undereducated Americans by providing a skills-based education. To remain competitive over the next decade, we must identify between 8 and 23 million new workers with postsecondary skills. PSCUs are a necessary part of that solution, having produced over 800,000 degrees last year alone.