FACT CHECK: Josh Mandel Refused To Support Sherrod’s Bill To Keep Federal Student Loan Interest Rates Low

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FACT CHECK: Josh Mandel Refused To Support Sherrod’s Bill To Keep Federal Student Loan Interest Rates Low

JOSH CLAIMS: College tuition is up.

THE TRUTH:  Sherrod  has worked to make college more affordable for Ohio students, while Josh Mandel refused to support Sherrod’s bill that would freeze federal student loan interest rates on Stafford Loans.

1. Josh Mandel would not support the bill to keep Stafford loan interest rates from doubling. [Toledo Blade, 6/4/12]

2. Sherrod fought to cut subsidies to private lenders and used that money to increase funding for Pell Grants, & direct aid to students. [CQ; Vote 326, 9/7/07]

3. Sherrod Brown voted for the largest increase in federal student aid since the G.I. Bill. [Kansas City Star, 9/28/07]

Mandel Refused To Support Bill By Senator Brown To Keep Interest Rates From Doubling.  In April 2012, The Cleveland Plain Dealer wrote “Mandel’s position? It appears that Mandel would support keeping student loan rates low if there is another way to pay.”  [Cleveland Plain Dealer, 4/28/12]

  • Mandel Communications Director Described Mandel’s Position “Indirectly.”  In April 2012, the Cleveland Plain Dealer reported that Travis Considine, Mandel’s communications director, described Mandel’s position “indirectly.”  [Cleveland Plain Dealer, 4/28/12]

June 4th:  Mandel Still Has Not Taken A Position On Either The Republican Or Democratic Plan To Keep Stafford Loan Interest Rates From Doubling.  In June 2012, The Toledo Blade reported “U.S. Sen. Sherrod Brown (D., Ohio) today pushed college students at Owens Community College to urge Congress to break a logjam and renew the low 3.4 percent interest rate on subsidized college loans.”  The Blade continued, “Senator Brown’s opponent, Republican state Treasurer Josh Mandel, hasn’t taken a position on the two competing Democratic and Republican plans.  Mandel spokesman Travis Considine said 85 percent of student debt is owed to the government, which itself is in debt for $15.7 trillion.”  [Toledo Blade, 6/4/12]

Brown Voted For Student Loan Reconciliation Conference Report Which Cut Subsidies To Private Lenders, Increased Direct Aid to Students and Pell Grants And Reduced The Deficit.  In September 2007, Senator Brown voted for adoption of the conference report on the bill that would cut government subsidies to student loan firms by about $20 billion and redirect most of the money to aid for students and college graduates. It also would include $750 million in federal budget deficit reduction. The maximum Pell grant award would be increased by $490 in 2008 and by $1,090 over five years. It would provide debt forgiveness to certain public sector workers after 10 years of service. The bill also would cap student loan repayments at 15 percent of discretionary income. [CQ; Vote 326, 9/7/07]

Brown Voted For Largest Increase In Federal Aid To Students Since The G.I. Bill.  In September 2007, the Kansas City Star reported “The College Cost Reduction and Access Act, which is effective Monday, reduces subsidies to lenders and redirects that money to allow more than $20 billion in additional grants and loans and eases the repayment process for students over the next five years. It is the largest increase in federal financial help for students since the G.I. Bill.” [Kansas City Star, 9/28/07]