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QUORUM CALL:
THE
SENATOR FROM IOWA.
STEIN --
WE'RE IN
A QUORUM CALL.
I'M SORRY.
I ASK THE PROCEEDINGS UNDER THE
QUORUM CALL.
I ASK THAT LUCY STEIN AND SARAH
NEUMANN BE GRANTED FLOOR
PRIVILEGES.
OBJECTION.
I'VE COME TO THE
FLOOR TODAY TO SPEAK ABOUT A
TRULY REMARKABLE AMERICAN.
A
DREAMER, AN ADVENTURER, A
DOER, MOST IMPORTANTLY A YOUNG
MAN WHO HAS DEVOTED HIMSELF TO
SERVICE TO OTHERS, FAR AND
ABOVE THE NORMAL CALL OF DUTY.
THE YOUNG MAN'S
NAME IS MATT RUTHERFORD.
THIS IS MATT RUTHERFORD, AND I'M
GOING TO TELL BUT HIM AND HIS
REMARKABLE ADVENTURE AND HIS
FEAT THAT'S BEEN UNPARALLELED.
HE'S A 38-YEAR-OLD OHIOAN AND
HERE'S WHAT HE'S BEEN DOING
YEAR.
ON JUNE THE 13th OF LAST YEAR,
HE SET SAIL IN HIS 36-YEAR-OLD,
27-FOOT ALBAN VEGA BOAT NAMED
ST. BRENDAN.
HE LEFT ANNAPOLIS, MARYLAND,
JUNE THE 13th OF 2011 AND IS
ATTEMPTING TO SAIL NEARLY 25,000
MILES, FROM ANNAPOLIS, MARYLAND,
UP THE EAST COAST -- UP THE EAST
COAST, ALL THE WAY AROUND
LABRADOR, NEWFOUNDLAND, UP BY
GREENLAND, THROUGH THE NORTHWEST
PASSAGE, ALL THE WAY OVER TO
ALASKA.
AND THEN FROM ALASKA ALL THE WAY
DOWN TO CAPE HORN, AROUND CAPE
HORN, UP SOUTH AMERICA AND BACK
INTO ANNAPOLIS.
NOW, WHAT'S SO REMARKABLE ABOUT
THAT?
WELL, IT'S NEVER BEEN DONE
BEFORE.
HE'S DOING IT SOLO.
AND HE'S DOING IT NONSTOP.
THINK ABOUT THAT.
HE HAS NEVER TOUCHED LAND AND
HAS NOT STOPPED SINCE HE LEFT
HERE 289 DAYS AGO.
THE -- IT'S TAKEN HIM THROUGH
SOME OF THE EARTH'S MOST
OCEANS, THE ARCTIC
OCEAN, THE OCEANS UP AROUND
ALASKA, THE ALLUSION ST -- THE
ALEUTIAN STRAITS, OF COURSE ALL
AROUND THE PACIFIC, AROUND
TREACHEROUS CAPE HORN, AND ALL
IN A 27-FOOT BOAT, THE KIND OF
BOAT THAT MOST SAILORS WOULD
MAYBE BE COMFORTABLE ON OFF THE
EASTERN SHORE IN THE CHESAPEAKE
THAT.
AS I SAID, HE HAS NOT SET FOOT
ON DRY LAND FOR THE ENTIRE
A REMARKABLE ADVENTURE.
NOW, IF YOU WANT TO LEARN MORE
ABOUT HIM, YOU CAN GO TO HIS WEB
THEAMERICAS.ORG.
SO IT'S WWW.SOLOTHEAMERICAS.ORG.
AND YOU CAN READ ALL ABOUT HIS
AMAZING JOURNEY.
AND HE UPDATES IT.
THE LAST UPDATE WAS YESTERDAY
THAT HE HAD UPDATED HIS JOURNEY.
OF CUBA AND
THE DOMINICAN REPUBLIC, RIGHT
DOWN HERE.
AND HE'S -- HIS LAST POSTING WAS
HE'S CALLED IT HOMESTRETCH.
HE HOPES TO ENTER THE CHESAPEAKE
BAY BY APRIL THE 12th, MAKE
HIS FIRST LANDFALL IN NEARLY A
YEAR AT ANNAPOLIS ON APRIL THE
13th.
THE SCOTT POLAR INSTITUTE IN
CAMBRIDGE, ENGLAND, HAS
RECOGNIZED HIM AS THE FIRST
PERSON IN RECORDED HISTORY TO
MAKE IT THROUGH THE FABLED
NORTHWEST PASSAGE.
SAILBOAT.
NEVER BEEN DONE BEFORE.
YOU'D THINK THAT WOULD BE ENOUGH
NO, HE HAS CONTINUED ON HIS
INCREDIBLE, REMARKABLE JOURNEY.
NOW, YOU MIGHT SAY, WELL, WHY HE
IS DOING THAT?
RECORD.
WELL, HE HAS SET A LOT OF
RECORDS ALREADY.
BUT WHY IS HE DOING IT?
HE'S DOING IT TO RAISE MONEY FOR
THE CHESAPEAKE REGION ACCESSIBLE
BOATING, CRAB FOR SHORT.
CHESAPEAKE REGIONAL ACCESSIBLE
BOATING.
AN ANNAPOLIS-BASED
ORGANIZATION TO PROVIDE SAILING
OPPORTUNITIES FOR THE PHYSICALLY
OR DEVELOPMENTALLY DISABLED
PEOPLE.
FOR KIDS AND YOUNG PEOPLE WHO
ARE DISABLED BUT WHO WOULD LIKE
TO SAIL.
AND THIS ORGANIZATION, THE
CHESAPEAKE REGION ACCESSIBLE
BOATING, DOES JUST THAT, IT
PROVIDES THEM THAT OPPORTUNITY.
I HAD THE PRIVILEGE OF TALKING
TO MATT RUTHERFORD LAST WEEK.
HE CALLED ME ON HIS SATELLITE
PHONE.
IT WAS AN EXCITING PHONE CALL
FOR ME BECAUSE I'VE WATCHED.
I DON'T KNOW MATT RUTHERFORD
PERSONALLY BUT I'VE WATCHED HIS
JOURNEY AND, OF COURSE, I'M VERY
ENTHUSED ABOUT THE CHESAPEAKE
REGION ACCESSIBLE BOATING
ORGANIZATION.
SO IN TALKING WITH HIM BY PHONE,
I WAS REALLY IMPRESSED BY HIS
COURAGE, HIS CHARACTER, HIS
AUDACITY.
ABOVE ALL, I'M IMPRESSED BY THE
FACT THAT HE'S DOING THIS IN A
CAUSE LARGER THAN HIMSELF.
TO MAKE IT POSSIBLE FOR MORE
WITH DISABILITIES TO
SHARE IN HIS PASSION FOR
SAILING.
HELEN KELLER ONCE SAID, "IT'S A
TERRIBLE THING TO SEE AND YET
HAVE NO VISION."
WELL, MATT RUTHERFORD HAS THE
HE ALSO HAS THE GIFT OF VISION
AND INDOMITABLE COURAGE.
HE'S ONE OF THOSE REMARKABLE
HUMAN BEINGS WHO DREAM BIG, WHO
ARE DRIVEN BY BIG CHALLENGES,
WHO REFUSE TO ACCEPT THE LIMITS
AND THE BOUNDARIES THAT
SO-CALLED REASONABLE PEOPLE WANT
TO PLACE ON YOU.
AND WHAT'S MORE, HE'S PLACED
HIMSELF IN THE SERVICE OF OTHERS
LESS FORTUNATE THAN HIMSELF.
MR. PRESIDENT, AS THE LEAD
SPONSOR OF THE AMERICANS WITH
DISABILITIES ACT, I'M
PARTICULARLY IMPRESSED THAT MATT
IS USING HIS VOYAGE TO RAISE
MONEY FOR -- TO HELP PEOPLE WITH
DISABILITIES TO PARTAKE IN THIS
ONE PASTTIME OF SAILING,
SOMETHING I HAVE ENJOYED ALL MY
ADULT LIFE SINCE I WAS IN --
SINCE I WAS IN THE NAVY.
HE'S DOING THIS SO THAT CHILDREN
AND ADULTS CAN HAVE THIS SAME
OPPORTUNITY.
BECAUSE, YOU SEE, THE REASON I'M
SO ENTHUSED BY THIS IS THAT ONE
OF THE FUNDAMENTAL ASPECTS OF
THE A.D.A., THE AMERICANS WITH
DISABILITIES ACT, IS THAT PEOPLE
WITH DISABILITIES SHOULD BE ABLE
TO PARTICIPATE FULLY IN ALL
ASPECTS OF SOCIETY AND THAT
INCLUDES ACCESS TO RECREATIONAL
OPPORTUNITIES LIKE SAILING,
WHICH CAN BE EXHILARATING AND
EMPOWERING FOR CHILDREN AND
ADULTS WITH A WIDE RANGE OF
DISABILITIES.
SO I SALUTE MATT RUTHERFORD FOR
HIS COURAGE, FOR HIS LOVE OF
SAILING, AND BEING WILLING TO
SHARE THAT WITH THE DISABILITY
COMMUNITY AND FOR USING THIS
ADVENTURE, THIS ALMOST
DEATH-DEFYING TRIP -- I MEAN,
FOR ANYONE WHO KNOWS WHAT IT'S
LIKE TO BE ON A 27-FOOT BOAT, TO
GO FROM HERE ALL THE WAY DOWN TO
CAPE HORN?
THAT'S INCREDIBLE.
ANY ONE OF NUMEROUS STORMS OR
ANYTHING COULD HAVE SUNK HIS
LITTLE BOAT.
HE'S HAD A LOT OF DIFFERENT
HE SPRUNG A LEAK.
HE'S BEEN WORKING ON THAT LEAK
EVER SINCE SOMEPLACE AROUND IN
HERE, SOUTH AMERICA, HE LOST AN
ENGINE.
AND HE KEEPS PATCHING HIS LEAK
ALL THE TIME.
EVERY DAY HE HAS TO PATCH HIS
LEAK.
SO HE'S FIGHTING A LEAK EVERY
DAY IN HIS BOAT.
AND, AGAIN, JUST GOING AROUND
CAPE HORN WITH THE -- WITH THE
TREMENDOUS WAVES AND
CROSS-CURRENTS AROUND CAPE HORN,
TO TAKE A SMALL BOAT THROUGH
THERE SINGLE-HANDEDLY, AS IS, --
IS, AS I SAID, DEATH DEFYING.
RIGHT UP HERE AROUND THE COAST
OF BRAZIL SOMEPLACE, HE ALMOST
GOT RAN OVER BY A FREIGHTER.
AT NIGHT.
WAS -- HE GONE TO SLEEP FOR A
HE HAS A LIGHT ON HIS BOAT SO
THAT PEOPLE CAN SEE HIM AT
NIGHT.
AND HE WOKE UP AND HE SAID HE
LOOKED OUT AND HE SAW THIS RED
LIGHT AND A GREEN LIGHT.
WITH NOTHING INBETWEEN IT COMING
AT HIM.
WELL, IT WAS A HUGE FREIGHTER,
AND AS YOU KNOW, RED ON ONE
SIDE, GREEN ON THE OTHER BEARING
DOWN ON HIM.
HE TURNED AND IT MISSED HIM JUST
BY A FEW FEET AND ALMOST SUNK
HIM IN THE BOWEL WAVE OF THE
FREIGHTER THAT WENT BY.
SO THAT'S -- THAT'S THE KIND OF
OF -- KIND OF THINGS THAT MATT
HAS LIVED WITH ALMOST EVERY DAY
FOR 289 DAYS.
SO, ANYWAY, HE HAS GREAT SKILL,
GREAT COURAGE.
HE'S MAKING A DIFFERENCE.
AND HE'S GOING TO MAKE A
DIFFERENCE FOR A LOT OF -- A LOT
OF PEOPLE.
I ESPECIALLY THINK OF YOUNG
PEOPLE WITH DISABILITIES WHO
WOULD LIKE TO SAIL AND BECAUSE
OF THIS ON, THE CHESAPEAKE
REGIONAL ACCESS BOATING --
ACCESSIBLE BOATING, THEY WILL
TO DO SO.
SO AGAIN, MR. PRESIDENT, I --
THIS IS ONE OF THE GREAT -- THIS
IS ONE OF THE NICE THINGS THAT
WE SEE HERE HAPPENING IN AMERICA
YOU KNOW, IF YOU THINK THAT
THERE AREN'T THOSE INDIVIDUALS
WITH THAT INDIVIDUAL KIND OF
COURAGE TO TAKE ON THE ELEMENTS,
TO RISK THEIR LIVES, WELL, WE
STILL HAVE THEM.
AND MATT RUTHERFORD IS -- STANDS
IN THE LINE OF GREAT ADVENTURERS
IN OUR HISTORY.
I APPLAUD HIM FOR HIS VISION AND
SPIRIT.
I WISH HIM SAFE PASSAGE ON HIS
HOMESTRETCH AND THE FINAL LEG OF
HIS EPIC JOURNEY.
I WOULD SAY THAT HE JOINS THE
RANKS OF JOSHUA SLOKUM, WHO ON
SPRAY WAS THE FIRST PERSON TO
CIRCUMNAVIGATE THE GLOBE SOLO.
JOSHUA SLOKUM WROTE A WONDERFUL
WORLD."
HE DID IT BEFORE THE TURN OF THE
LAST CENTURY.
THE
OR THE NEXT GREAT PERSON THAT
SAILED ALONE, SIR FRANCIS
CHICHESTER ON GYPSY MOTH IV NOT
TOO MANY YEARS AGO WHO
CIRCUMNAVIGATED THE GLOBE.
SO YOU CAN AFTERNOON TO JOSHUA
SLOKUM AND SIR FRANCIS
CHICHESTER ON GYPSY MOTH IV,
NONSTOP.
NEVER BE DONE AGAIN.
AND HE'S DOING IT FOR THE BEST
OF ALL REASONS.
RUTHERFORD.
HE'S GOING TO BE BACK, AS I
SAID, HOPEFULLY BY APRIL THE
12th.
I HOPE TO MEET HIM.
I'VE NEVER MET THE YOUNG MAN BUT
I'VE FOLLOWED HIS JOURNEY AND
HIS COURAGE AND IT'S THE KIND OF
PERSON THAT JUST GIVES HEART AND
SPIRIT TO ALL OF US, TO KNOW
THAT THERE'S NOTHING THAT WE
CAN'T DO IF WE SET OUR MINDS AND
OUR HEARTS AND HAVE THE
WILLPOWER AND THE COURAGE TO
SO I HOPE MEET HIM WHEN HE COMES
BACK.
AGAIN, MR. PRESIDENT, A YOUNG
MAN OF GREAT COURAGE.
AND I SAY I HOPE -- THE HOPE THE
HOMESTRETCH IS ONE WITH FAIR
WINDS AND A FOLLOWING SEA.
MR. PRESIDENT, WITH THAT, I
YIELD THE FLOOR.
AND I NOTE THE ABSENCE OF A
QUORUM.
THE CLERK
WILL CALL THE ROLL.
QUORUM CALL:
MR. PRESIDENT?
THE
SENATOR FROM IOWA.
I ASK THAT
FURTHER PROCEEDINGS UNDER THE
QUORUM CALL BE DISPENSED WITH.
OBJECTION.
AND, MR. PRESIDENT,
I ASK THAT MY FOLLOWING REMARKS
APPEAR AT THE ENDS OF MY REMARKS
I JUST MADE BEFORE PREVIOUS TO
PUTTING IN THE QUORUM CAL
WITHOUT
OBJECTION.
MR. PRESIDENT, I
MENTIONED THAT MATT RUTHERFORD
WAS DOING THIS FOR THE
CHESAPEAKE REGIONAL ACCESSIBLE
BOATING ORGANIZATION THAT
PROVIDES BOATING FOR PEOPLE WITH
DISABILITIES.
I WOULD URGE ANYONE WHO'S BAD IN
THIS --
I WOULD URGE ANYONE WHO'S
INTERESTED IN THIS AND TO SEE
WHAT A GREAT ORGANIZATION THIS
IS, THEY CAN GO TO THEIR WEB
SITE, IT'S JUST VERY SIMPLE,
CRABSAILING.ORG.
CRABSAILING.ORG.
AND IT'S JUST A GREAT
ORGANIZATION THAT HELPS PEOPLE
WITH DISABILITIES TAKE UP
SAILING AND LEARN THE ART AND
THE CRAFT OF SAILING.
SO, AGAIN, MR. PRESIDENT, A
REMARKABLE YOUNG MAN, A
REMARKABLE JOURNEY.
AND, AGAIN, I WISH HIM FAIR
WINDS AND A FOLLOWING SEA IN HIS
MR. PRESIDENT, WITH THAT, I
YIELD THE FLOOR AND I NOTE THE
ABSENCE OF A QUORUM.
THE CLERK
WILL CALL THE ROLL.
QUORUM CALL:
S S
QUORUM CALL:
MR. PRESIDENT?
SENATOR FROM ILLINOIS.
I ASK CONSENT TO
SPEAK IN MORNING BUSINESS.
WE'RE
IN A QUORUM CALL, SIR.
I ASK CONSENT TO
SUSPEND THE QUORUM CALL.
OBJECTION.
AND THEN CONSENT
TO SPEAK IN MORNING BUSINESS.
OBJECTION.
MR. PRESIDENT,
LAST WEEK THE CONSUMER FINANCIAL
PROTECTION BUREAU REPORTED THAT
OUTSTANDING STUDENT LOAN DEBT IN
MARK.
STUDENT LOANS.
THE CFPB OFFICIAL WAS CITED BY
BLOOMBERG NEWS SAYING EXCESSIVE
STUDENT DEBT COULD SLOW THE
AMERICAN ECONOMY'S RECOVERY.
THE HOUSING MARKET, PARTICULARLY
WHEN YOUNG PEOPLE WHEN REPAYING
MONEY FOR THEIR EDUCATION CAN'T
AFFORD TO BUY A HOME.
MASSIVE STUDENT DEBT IS
AFFECTING THE CONSUMER'S ABILITY
TO PURCHASE GOODS AND SERVICES.
YESTERDAY THE SUBCOMMITTEE ON
FINANCIAL SERVICES AND GENERAL
HAD A HEARING.
TREASURY SECRETARY GEITHNER CAME
IN TALKING ABOUT IT.
WHILE THE OVERALL GROWTH IN
STUDENT INDEBTEDNESS IS
TROUBLING, THE MOST PRESSING
CONCERN IS PRIVATE STUDENT
LOANS.
SECRETARY GEITHNER RECOGNIZED
PRIVATE STUDENT LOANS DO NOT
COME WITH ANY OF THE CONSUMER
PROTECTIONS THAT FEDERAL LOANS
DO.
RISKIER.
FEDERAL STUDENT LOANS HAVE
FIXED, AFFORDABLE INTEREST
RATES, 3.4%.
THEY ALSO HAVE A VARIETY OF
CONSUMER PROTECTIONS.
FEDERAL LOANS HAVE FOREBEARANCE
IN TIMES OF ECONOMIC HARDSHIP
AND MANAGEABLE REPAYMENT OPTIONS
SUCH AS INCOME-BASED REPAYMENT
PRIVATE STUDENT LOANS, ON THE
OTHER HAND, OFTEN HAVE HIGH
VARIABLE INTEREST RATES.
SOME HAVE BEEN QUOTED AT 18%, A
KIND OF RATE YOU'RE CAREFUL OF
WHEN IT COMES TO YOUR CREDIT
CARD.
THEY HAVE HEFTY ORIGINATION FEES
AND A LACK OF REPAYMENT OPTIONS.
PRIVATE LENDERS HAVE TARGETED
LOW-INCOME BORROWERS WITH SOME
OF THE RISKIEST HIGHEST-COST
IN MANY RESPECTS PRIVATE STUDENT
LOANS ARE JUST LIKE CREDIT
CARDS, EXCEPT UNLIKE CREDIT CARD
DEBT, PRIVATE STUDENT LOAN DEBT
CAN NEVER BE DISCHARGED IN
IN 2005, CONGRESS CHANGED THE
BANKRUPTCY LAWS.
I WANT TO MAKE A POINT HERE, I
VOTED AGAINST IT.
CONGRESS CHANGED THE BANKRUPTCY
LAW AND INCLUDED A PROVISION
MAKING PRIVATE STUDENT LOAN
DEBTS NONDISCHARGABLE IN
BANKRUPTCY EXCEPT UNDER THE
RAREST OF CIRCUMSTANCES.
I'VE NEVER FOUND ONE THAT HAS
REALLY QUALIFIED.
THAT MEANS THAT STUDENTS ARE
STUCK WITH THEIR LOANS FOR LIFE.
WHILE THE VOLUME OF PRIVATE
STUDENT LOANS IS DOWN FROM ITS
PEAK JUST A FEW YEARS AGO WHEN
IT AMOUNTED TO 26% OF ALL
STUDENT LOANS, PRIVATE LENDING
IS STILL AGGRESSIVELY PROMOTED
BY THE FOR-PROFIT COLLEGE
INDUSTRY.
ON STUDENT DEBT
REPORTS THAT 42% OF FOR-PROFIT
COLLEGE STUDENTS HAVE PRIVATE
LOANS IN 2008.
THAT'S UP FROM 12% JUST FIVE
YEARS EARLIER.
12% TO 42%.
FOR-PROFIT COLLEGE STUDENTS ALSO
GRADUATE WITH MORE DEBT THAN
THEIR PEERS WHO GRADUATE FROM
PUBLIC OR PRIVATE NONPROFIT
MANY FOR-PROFIT COLLEGES EMPLOY
A BUSINESS MODEL THAT STEERS
STUDENTS INTO PRIVATE STUDENT
LOANS BECAUSE OF THE 90-10 RULE.
FOR THE RECORD, PRIVATE
FOR-PROFIT SCHOOLS CAN ONLY --
ONLY -- RECEIVE 90% OF THEIR
REVENUE FROM THE FEDERAL
THEY ARE THE CLOSEST DARNED
THING TO A FEDERAL AGENCY YOU'VE
EVER SEEN EXCEPT THEY'RE MAKING
MILLIONS OF DOLLARS AT THE
EXPENSE OF THE GOVERNMENT AND
UNSUSPECTING STUDENTS AND THEIR
FAMILIES.
SO TO FIND THE 10% OF NONFEDERAL
MONEY, PRIVATE STUDENT LOANS.
GET THE STUDENTS TO SIGN UP FOR
10% OF THEIR EDUCATION IN
PRIVATE STUDENT LOANS, EVEN IF
THEY QUALIFY FOR FEDERAL LOANS,
WHICH ARE A MUCH BETTER DEAL.
THE 90-10 RULE THAT REQUIRES AT
LEAST 10% OF THEIR REVENUE FROM
NONFEDERAL STUDENT AID SOURCES
MAKES THIS AN IMPERATIVE FOR
MANY FOR-PROFIT SCHOOLS.
AS A RESULT MANY STUDENTS ARE
ENCOURAGED TO TAKE OUT PRIVATE
LOANS WHEN THEY'RE STILL
ELIGIBLE FOR FEDERAL LOANS.
AND EVEN WHEN THE LENDERS KNOW
THE STUDENTS ARE GOING TO
DEFAULT.
SCHOOLS COMPLY SO SCHOOLS CAN
COMPLY WITH THE 90-10 RULE.
KERRY SHAB CONTACTED MY OFFICE
SEEKING RELIEF FROM HER STUDENT
SHE RECEIVES A BACHELOR'S IN ART
FROM THE INTERNATIONAL KABGD
DESIGN AND -- ACADEMY DESIGN AND
TECHNOLOGY, A FOR-PROFIT
COLLEGE.
WHEN SHE SPOKE TO AN ADMISSIONS
REPRESENTATIVE, SHE WAS ENROLLED
ALMOST IMMEDIATELY.
LOOKING BACK, SHE SAYS THE
SCHOOL, THEY TAKE WHOEVER IS
WILLING TO PAY.
SHE WAS ASSURED SHE WOULD BE
ABLE TO OBTAIN A POSITION IN HER
FIELD THAT WOULD HELP HER PAY
OFF HER STUDENT DEBT.
REFLECTING ON HER EXPERIENCE,
SHE SAID I WAS YOUNG.
I DIDN'T UNDERSTAND HOW MUCH I
WOULD OWE OR WHAT THE LOANS
I TRUSTED THE SCHOOL.
AFTER COMPLETING HER B.A.
PROGRAM, SHE DECIDED SHE WOULD
PURSUE A MASTERS IN HER FIELD.
WHAT SHE FOUND OUT SHOCKED HER,
NO SCHOOL WOULD ACCEPT HER
IT WAS A WORTHLESS DIPLOMA.
WITH NO JOB, NO FUTURE IN HER
DEBT.
SHE DECIDED TO SWITCH CAREERS
ENTIRELY SO SHE WOULD BE ABLE TO
PAY OFF HER STUDENT LOANS.
SHE CURRENTLY ATTENDS OAKTON
COMMUNITY COLLEGE FOR NURSING.
SHE'S UNABLE TO GET A MORTGAGE
BECAUSE OF HER OLD STUDENT LOAN
DEBT OF $58,000.
WORSE YET, HER PARENTS, TRYING
TO HELP HER OUT, TOOK OUT
TUITION.
HER PARENTS ARE CURRENTLY IN
13 BANKRUPTCY, BUT THAT
LOAN WON'T BE DISCHARGED.
WE NEED TO BEGIN NOW TO ADDRESS
THIS LOOMING STUDENT DEBT BOMB
CRISIS.
WE NEED TO PROTECT STUDENTS AND
PREVENT MORE STUDENTS FROM
STEPPING INTO THE SAME TRAPS
THAT HAVE CAUGHT SO MANY OTHERS.
TODAY SENATOR TOM HARKIN OF IOWA
AND I ARE INTRODUCING THE "KNOW
BEFORE YOU OWE" PRIVATE STUDENT
LOAN ACT OF 2012.
HERE'S WHAT IT SAYS.
IT REQUIRES THE PROSPECTIVE
BORROWER'S SCHOOL TO CONFIRM THE
STUDENT'S ENROLLMENT STATUS, THE
COST OF ATTENDANCE AND THE
ESTIMATED FEDERAL FINANCIAL AID
ASSISTANCE BEFORE THE PRIVATE
STUDENT LOAN IS APPROVED.
OFTEN STUDENTS HAVEN'T APPLIED
FOR FEDERAL STUDENT LOANS BEFORE
THEY'RE ASKED TO APPLY FOR
PRIVATE STUDENT LOANS, WHICH ARE
NOT NEARLY AS GENEROUS OR
REQUIRING SCHOOL CERTIFICATION
ALSO GIVES THE SCHOOLS THE
OPPORTUNITY TO MAKE STUDENTS
AWARE OF FEDERAL GOVERNMENT
STUDENT AID OPTIONS.
THE BILL REQUIRES SCHOOLS TO
COUNSEL THE STUDENT ABOUT THEIR
OPTIONS, TELL THEM HOW THE
PRIVATE STUDENT LOAN WILL AFFECT
THOSE OPTIONS AND WHAT IT'S
GOING TO COST FOR THEM TO REPAY
THESE LOANS.
IN ADDITION, SCHOOLS WILL BE
REQUIRED TO INFORM STUDENTS
ABOUT THE DIFFERENCES BETWEEN
FEDERAL AND PRIVATE STUDENT
LOANS, AND THE DIFFERENCES ARE
DRAMATIC.
THIS WILL GIVE STUDENTS TIME TO
WEIGH THEIR OPTIONS, MAKE A
CHOICE, BE INFORMED.
WHEN STUDENTS LIKE CARRIE WHO
CONTACTED MY OFFICE ABOUT THEIR
STUDENT LOANS, THEY OFTEN TELL
ME THEY DIDN'T KNOW THE
DIFFERENCE BETWEEN THE TWO.
IT WAS JUST A STUDENT LOAN,
SENATOR.
MOST GO ON TO SAY THAT IF THEY
HAD KNOWN, THEY WOULD HAVE
THOUGHT MORE CAREFULLY ABOUT A
PRIVATE STUDENT LOAN AND THE
DEBT THEY WERE INCURRING.
FOR THOSE STUDENTS WHO DECIDE TO
TAKE OUT A PRIVATE STUDENT LOAN,
THE BILL REQUIRES LENDERS TO
PROVIDE THE BORROWER WITH
QUARTERLY UP TO DATE INFORMATION
OWED.
FINALLY, THE BILL REQUIRES
REPORT INFORMATION TO
THE CONSUMER FINANCIAL
PROTECTION BUREAU ABOUT HOW MANY
STUDENTS ARE TAKING OUT LOANS
AND WHAT ARE THE RATES.
THERE IS VERY LITTLE INFORMATION
ABOUT PRIVATE STUDENT LOANS
CURRENTLY AVAILABLE.
MORE INFORMATION WILL HELP
CONGRESS AND THE CFPB
EFFECTIVELY INFORM CONSUMERS
ABOUT THESE LOANS.
THIS LEGISLATION IS SUPPORTED BY
A HUGE COALITION OF EDUCATION,
STUDENT AND CONSUMER
ORGANIZATIONS.
I WANT TO THANK TOM HARKIN FOR
HIS WORK ON THIS BILL AND
ESPECIALLY ALL OF THE HARD WORK
HE HAS PUT IN ON THESE
FOR-PROFIT COLLEGES.
MR. PRESIDENT, IT'S FINALLY
DAWNING ON A LOT OF MEMBERS OF
CONGRESS AS THEY SEE PROGRAMS
LIKE "FRONTLINE" TALKING ABOUT
THE FOR-PROFIT COLLEGE INDUSTRY
AND AS THEY MEET THESE STUDENTS
WHO ARE GOING TO THESE WORTHLESS
FOR-PROFIT COLLEGES, STUDENTS
WHO ARE JUST STACKING UP THE
DEBT FOR A WORTHLESS DIPLOMA,
THAT IT'S TIME FOR OUR FEDERAL
GOVERNMENT TO STEP UP.
HOW CAN YOU BLAME A STUDENT OR
HIS FAMILY IF THEY ARE GOING TO
A SCHOOL WHERE THEY, THE FEDERAL
GOVERNMENT, ARE WILLING TO OFFER
PELL GRANTS AND FEDERAL LOANS?
WHAT'S A STUDENT TO THINK?
IF IT'S GOOD ENOUGH FOR THE
FEDERAL GOVERNMENT TO LOAN
MONEY, IT MUST BE A GOOD SCHOOL.
IN FACT, IN MANY INSTANCES, IN
MOST INSTANCES, THESE FOR-PROFIT
SCHOOLS ARE NOT GOOD SCHOOLS.
THEY ARE NOT OFFERING A GOOD
EDUCATION.
THERE ARE EXCEPTIONS, BUT TOO
MANY OF THEM ARE JUST BAD
OPERATIONS.
WE SUBSIDIZE IT.
90% TO 95% OF THEIR REVENUE
COMES STRAIGHT FROM THE FEDERAL
GOVERNMENT.
WHEN IT TALKS ABOUT FREEZING
FEDERAL EMPLOYEE SALARIES, WE
OUGHT TO FREEZE THE EMPLOYEES AT
THESE FOR-PROFIT SCHOOLS.
THEY ARE 95% FEDERAL.
YOU DON'T HEAR THAT FROM THE
OTHER SIDE OF THE AISLE, BUT
AND I WANT TO ALSO TELL YOU
THIS.
THIS STUDENT LOAN DEBT BOMB THAT
WE'RE FACING, WHICH I TALKED TO
TO -- TALK TO TREASURY SECRETARY
GEITHNER ABOUT TOMORROW, IS
GOING TO EXPLODE ON US JUST LIKE
THE SUBPRIME MARKET.
LET ME TELL YOU HOW IT'S GOING
TO WORK.
MORE AND MORE STUDENTS ARE GOING
INTO DEFAULT.
THEY CAN'T PAY BACK THESE
AND THEY ARE GOING TO FACE LIFE
DECISIONS THAT WILL CHANGE THEIR
FUTURES AND THE FUTURE OF THE
AMERICAN ECONOMY.
WE NOW HAVE 40% OF STUDENTS WHO
ARE MAKING PAYMENTS ON THEIR
STUDENT LOANS, 40%.
SOME ARE STILL IN SCHOOL, I'LL
CONCEDE THAT POINT, BUT MANY OF
THEM JUST CAN'T DO IT.
WE HAVE PILED THIS DEBT ON, WE
GIVE THEM PREFERRED TREATMENT IN
THE BANKRUPTCY COURTS SO THAT
THE LENDERS CAN'T HAVE THE DEBT
DISCHARGED, AND WE SIT THERE AND
WATCH AS THE LIVES OF THESE
YOUNG PEOPLE DETERIORATE.
THIS ONE YOUNG LADY WHO
TESTIFIED AT MY HEARING BORROWED
$80,000, $40,000 FROM THE
FEDERAL GOVERNMENT, $40,000
PRIVATE STUDENT LOAN.
WENT TO THE HARRINGTON SCHOOL OF
DESIGN IN THE SUBURBS OF CHICAGO
AND ENDED UP WITH A WORTHLESS
DIPLOMA, WORTHLESS.
IT'S FIVE YEARS LATER NOW.
HER DEBT IS NO LONGER $80,000.
IT'S $98,000.
IT JUST KEEPS GOING UP.
SHE PAYS $830 A MONTH, AND THE
PRIVATE STUDENT LOAN DEBT IS
EXPLODING RIGHT IN FRONT OF HER.
SHE CAN'T PAY IT.
SHE DOESN'T KNOW WHAT SHE IS
GOING TO DO.
SHE SAYS I WILL HAVE TO GIVE UP
THE LITTLE HOME MY HUSBAND AND I
JUST BOUGHT, AND IT LOOKS PRETTY
DESPERATE FOR HER.
HER DESPERATE SITUATION AFFECTS
HER AT THE AGE OF 32.
HOW DO WE LET THIS HAPPEN?
DON'T WE HAVE AN OBLIGATION AS A
GOVERNMENT, AS A PEOPLE TO STOP
THIS EXPLOITATION OF CHILDREN
AND THEIR FAMILIES?
THAT'S WHAT'S GOING ON.
THIS BILL I PUT IN TODAY IS
GOING TO REQUIRE THESE SCHOOLS,
ALL SCHOOLS TO TELL THE STUDENTS
FIRST YOU HAVE FEDERAL LOAN
ELIGIBILITY LEFT.
IT'S 3.4%, NOT 18%.
THERE IS LOAN FORGIVENESS IF YOU
BECOME A NURSE OR A TEACHER.
IT'S BASED ON THE AMOUNT OF
INCOME YOU HAVE LATER IN LIFE
REPAYMENT IS GOING TO
IF YOU GET INTO TROUBLE, YOU CAN
HAVE A DELAY IN PAYMENT WITHOUT
WATCHING YOUR LOAN JUST STACK
UP.
THESE ARE BASIC THINGS WE HAVE
STUDENTS.
STUDENTS AND THEIR FAMILIES
OUGHT TO KNOW THAT.
THAT'S WHAT THIS BILL IS ABOUT.
I COMMEND IT TO MY COLLEAGUES.
I HOPE YOU WILL JOIN SENATOR
I WANT TO OFFER THIS ON THE
I WANT SOME COLLEAGUES HERE TO
GO HOME AND FACE THE STUDENT
LOAN ISSUE AND LISTEN TO THE
FAMILIES THEY REPRESENT.
WE'RE HEARING AT OUR WEB SITE, I
INVITE STUDENTS AND FAMILIES TO
COME TO MY OFFICIAL WEB SITE AND
TELL THEIR STORIES.
AS WE LEARN WHAT IT'S ALL ABOUT,
WE SEE THE NEED TO MOVE ON THIS
AND MOVE QUICKLY.
MR. PRESIDENT, I YIELD THE
FLOOR.
A SENATOR: MR. PRESIDENT.
THE
SENATOR FROM RHODE ISLAND.
MR. PRESIDENT, I RISE
TODAY ALONG WITH MY COLLEAGUE
TO
SENATOR DENNIS WHITEELL.
ON MARCH 22, HE WAS IN A CONVOY
WITH HIS UNIT IN AFGHANISTAN.
SOME CHILDREN WERE IN THE ROAD.
SOAR CHENOWETH WHITECHELL AND
OTHER TROOPS GOT OUT TO MOVE
MOST OF THE CHILDREN TO SAFETY.
MOST OF THE CHILDREN GOT OUT OF
THE WAY BUT ONE OF THE LITTLE
GIRL CAME BACK TO THE ROAD.
AS AN MRAP APPROACHED, THE
SERGEANT PULLED HER OUT OF THE
VEHICLE'S PATH BUT IN DOING SO,
HE WAS HIT BY THE VEHICLE.
HE WAS MEDICALLY EVACUATED TO A
MEDICAL TREATMENT FACILITY WHERE
A SURGICAL TEAM WORKED TO
STABILIZE HIM, BUT TRAGICALLY,
HE DIED FROM HIS INJURIES.
BECAUSE OF HIS HEROIC ACTIONS,
THE LITTLE GIRL HE SAVED WAS
UNHARMED IN THE ACCIDENT, AND HE
WILL BE LAID TO REST THIS MONDAY
IN RHODE ISLAND.
A HERO, SOMEONE WHO EXEMPLIFIES
THE QUALITIES OF THE AMERICAN
SOLDIER.
SACRIFICE, SELFLESS SACRIFICE
FOR OTHERS.
SERGEANT WHITECHELL JOINED THE
SERGEANT.
HE PREVIOUSLY DEPLOYED TO IRAQ
HEADQUARTERS, HEADQUARTERS
COMPANY THIRD BATTALION OF THE
172nd INFANTRY MOUNTAIN.
IN NOVEMBER, 2011, HE MOBILIZED
THE DEPLOYMENT TO AFGHANISTAN
WITH THE FIRST BATTALION
EACH GENERATION OF AMERICAN IS
CALLED UPON TO PROTECT AND
SUSTAIN OUR DEMOCRACY, AND THERE
ARE NO GREATER HEROES THAN THE
MEN AND WOMEN WHO HAVE WORN THE
UNIFORM OF OUR NATION AND WHO
HAVE SACRIFICED FOR OUR COUNTRY
TO KEEP IT SAFE AND TO KEEP IT
IT IS OUR DUTY TO PROTECT THE
FREEDOM THEY SACRIFICED THEIR
LIVES FOR THROUGH OUR SERVICE,
OUR CITIZENSHIP.
WE MUST CONTINUE TO KEEP THEIR
MEMORIES ALIVE AND HONOR THE
HEROISM, NOT SIMPLY BY WORDS BUT
COUNTRY.
TODAY OUR THOUGHTS ARE WITH
SERGEANT WHITECHELL'S FATHER,
MOTHER, BROTHER AND SISTERS, HIS
CHILDREN NICHOLAS AND HOPE AND
THEIR MOTHER AMANDA AND HIS
FIANCEE ASHLEY AND THEIR
DAUGHTER MADISON, AND ALL OF HIS
FAMILY AND FRIENDS AND HIS
COMRADES IN ARMS.
WE JOIN THEM IN COMMEMORATING
HIS SACRIFICE AND HONORING HIS
EXAMPLE OF SELFLESS SERVICE, OF
LOVE AND OF COURAGE AND OF
DEVOTION.
TO THE SOLDIERS HE SERVED WITH
AND THE PEOPLE OF AFGHANISTAN HE
WAS TRYING TO HELP.
SERGEANT WHITECHELL IS ONE AMONG
MANY RHODE ISLANDERS WHO HAVE
PROVEN THEIR LOYALTY, THEIR
INTEGRITY AND THEIR PERSONAL
COURAGE BY GIVING THE LAST FULL
MEASURE OF THEIR LIVES IN
SERVICE TO OUR COUNTRY AND
AFGHANISTAN AND IRAQ AND
ELSEWHERE AROUND THE GLOBE AND
THROUGHOUT THE YEARS.
TODAY WE HONOR HIS MEMORY AND
ALL THOSE THAT SERVED AND
SACRIFICED AS HE DID.
SERGEANT WHITECHELL JOINS A ROLL
OF HONOR THAT INCLUDES RHODE
ISLANDERS, SPECIALIST DENNIS
PULAND OF THE ARMY NATIONAL
GUARD, SERGEANT MICHAEL
PARANZINO OF THE UNITED STATES
ARMY, PRIVATE FIRST CLASS KYLE
CUTU OF THE UNITED STATES MARINE
CORE, FRANCIS ALTONA OF THE
UNITED STATES NAVY, RONALD A.
GILL JR. OF THE UNITED STATES
COAST GUARD, SERGEANT MICHAEL R.
WHITEAMAN, UNITED STATES ARMY,
SERGEANT MOSES JASMINE, UNITED
STATES ARMY, STAFF SERGEANT DALE
JAMES KELLER JR., ARMY NATIONAL
ST. GERMANE, UNITED STATES
MARINE CORPS, SERGEANT DENNIS J.
FLANAGAN, UNITED STATES ARMY,
SERGEANT MATTHEW CUTU, UNITED
LANCE CORPORAL
LANCE SHARETT, ARMY MARINE
CORPS, LANCE CORPORAL JOHN D.
VANGUISEN, UNITED STATES MARINE
CORPS, CAPTAIN CHRISTOPHER S.
CASH, UNITED STATES ARMY, LANCE
CORPORAL MATTHEW K.SERIO, UNITED
STATES MARINE CORPS, MASTER
SERGEANT RICHARD L. FERGUSON,
UNITED STATES ARMY, SERGEANT
FIRST CLASS, CURTIS MANCINI,
UNITED STATES ARMY RESERVE,
CAPTAIN MATTHEW J. AUGUST,
UNITED STATES ARMY, CHIEF
WARRANT OFFICER SHARON
T.STOFWORTH, UNITED STATES ARMY,
SPECIALIST MICHAEL ANDGRAVE,
ARMY NATIONAL GUARD, STAFF
SERGEANT JOSEPH CAMERA, ARMY
NATIONAL GUARD, ALL OF THESE MEN
AND WOMEN HAVE GIVEN THEIR LIVES
IN THE LAST DECADE IN
AFGHANISTAN AND IRAQ.
IT IS A ROLE OF HONOR.
IT IS A -- IT IS A ROLL OF
IT IS A ROLL THAT SERGEANT
WHITECHELL JOINS.
IT SHOULD BE FOR US A ROLL NOT
JUST TO RECOGNIZE AND TO
REMEMBER BUT TO RECOMMIT, TO TRY
IN SOME SMALL WAY TO MATCH THEIR
GREAT SACRIFICE FOR THIS GREAT
NATION.
WITH THAT, MR. PRESIDENT, I
WOULD YIELD THE FLOOR.
THE
SENATOR FROM RHODE ISLAND.
MR. PRESIDENT,
IT IS WITH GREAT SADNESS BUT
ALSO CONSIDERABLE PRIDE THAT I
JOIN SENATOR REED TODAY TO HONOR
THE SERVICE OF DENNIS P.
WHITECHELL JR. OF THE RHODE
ISLAND NATIONAL GUARD WHO DIED
ONE WEEK AGO TODAY WHILE SERVING
OUR COUNTRY IN AFGHANISTAN.
DENNIS' ACTIONS IN DEFENSE OF
THE LIVES OF VULNERABLE
CIVILIANS EMBODY THE MOST NOBLE
SACRIFICE AND
LOYALTY FOUND IN THE HEARTS OF
THE MEN AND WOMEN SERVING OUR
NATION IN UNIFORM IN THE MOST
DANGEROUS CORNERS OF THE GLOBE.
IN PARTICULAR, THEY REFLECT THE
SPIRIT OF SERVICE OF THE RHODE
ISLAND NATIONAL GUARD WHICH IS
THE SECOND MOST HEAVILY DEPLOYED
STATE GUARD IN THE COUNTRY.
DENNIS, WHO WAS 29 YEARS OLD,
LIVED IN PROVIDENCE.
HE HAD JOINED THE RHODE ISLAND
NATIONAL GUARD IN 2001 AND HE
DEPLOYED TO IRAQ IN 2005 IN
SUPPORT OF OPERATION IRAQI
AS A MEMBER OF COMPANY D THIRD
BATTALION 172nd INFANTRY
MOUNTAIN REGIMENT.
IN NOVEMBER, 2011, DENNIS
MOBILIZED WITH COMPANY C'S FIRST
BATTALION 143nd INFANTRY
REGIMENT TROOP COMMAND TO CAMP
ATTARBURY, INDIANA.
HIS UNIT DEPLOYED FORWARD TO
HE HAD ONLY BEEN IN AFGHANISTAN
JUST A FEW WEEKS WHEN HIS UNIT
ENCOUNTERED A GROUP OF CHILDREN
ON ITS WAY OUT OF THE BLACK
HILLS FIRING RANGE IN LOGMAN
PROVINCE.
THE CHILDREN WERE SCAVENGING IN
THE ROAD FOR BRASS SHELL CASINGS
WHICH ARE RECYCLABLE FOR MONEY
IN AFGHANISTAN.
DENNIS, A FATHER OF THREE,
HOPPED DOWN FROM HIS VEHICLE TO
HELP MOVE THE CHILDREN SAFELY
OUT OF THE PATH OF THE CONVOY OF
TRUCKS AND ARMORED VEHICLES.
AS THE HEAVY TRUCKS RUMBLED
PAST, IT APPEARS THAT A YOUNG
AFGHAN GIRL DARTED BACK INTO THE
ROAD TO GRAB ONE LAST GRASS
SHELL CASING.
SEEING ONE OF HIS UNIT'S
MINE-RESISTANT, AMBUSH-PROTECTED
VEHICLES BEARING DOWN ON THE
GIRL, DENNIS REACTED SWIFTLY AND
SELFLESSLY, LIFTING THE GIRL TO
PLACING HIMSELF IN
THE PATH OF THE 16-TON M-RAP.
I'M SURE THIS WAS A PARENT'S
INSTINCT AND THAT DENNIS HAD IN
MIND HIS OWN CHILDREN, NICHOLAS,
AGE 8, HOPE, AGE 6, AND BABY
MADISON.
DENNIS WAS EVACUATED TO THE
JALALABAD MEDICAL TREATMENT
FACILITY AND THERE HE SUCCUMBED
TO HIS INJURIES.
DENNIS LEAVES BEHIND HIS FIANCEE
ASHLEY, THE MOTHER OF THEIR 8
MONTH OLD BABY GIRL MADISON.
HE LEAVES BEHIND HIS FORMER WIFE
AMANDA WHO IS MOTHER TO HIS SON
NICHOLAS AND TO HIS DAUGHTER
HOPE.
HE LEAVES BEHIND HIS MOTHER AND
FATHER, LINDA REYNOLDS AND
DENNIS WHITECHELL SR.
MY DEEPEST AND HEARTFELT SORROWS
AND PRAYERS GO OUT TO ALL OF
DENNIS' FAMILY AND TO HIS
FRIENDS.
SENATOR REED AND I WILL JOIN
THEM THIS WEEKEND TO PAY OUR
RESPECTS WHEN DENNIS COMES HOME
FOR THE LAST TIME TO RHODE
ISLAND.
DENNIS ACTED WITH INSTINCTIVE
BRAVERY ON THAT ROAD IN LOGMAN
PROVINCE.
HIS ACTION REFLECTED THE
SELFLESS DEDICATION OF AN
AMERICAN SOLDIER AND THE HEART
OF A FATHER TOWARD A CHILD.
DENNIS HAS BEEN POST POSTHUMOUSLY
PROMOTED FROM THE RANK OF
SPECIALIST TO SERGEANT AND HIS
FAMILY WILL RECEIVE THE BRONZE
STAR HE HAS BEEN AWARDED FOR
THE WRITER JOSEPH CAMPBELL ONCE
DESCRIBED A HERO AS SOMEONE WHO
HAS GIVEN HIS OR HER LIFE TO
SOMETHING BIGGER THAN ONESELF.
IN GIVING HIS LIFE TO SAVE ONE
SMALL CHILD, SERGEANT DENNIS
HAS REFLECTED GREAT
HONOR UPON OUR MILITARY AND ITS
BEST TRADITIONS, AND THIS GREAT
NATION AND THE VALUES FOR WHICH
IT STANDS.
HE WILL JUSTLY BE REMEMBERED A
HERO.
I YIELD THE FLOOR.
MR. PRESIDENT, I NOTE
THE ABSENCE OF A QUORUM.
THE CLERK
WILL CALL THE ROLL.
CALL:
A SENATOR: MR. PRESIDENT.
THE
SENATOR FROM RHODE ISLAND.
MR. PRESIDENT,
I ASK UNANIMOUS CONSENT THE
QUORUM CALL WE ARE IN BE LIFTED.
WITHOUT