Congressman Tom Price (R-GA) issued the following statement after the House of Representatives passed H.R. 3221, legislation that would make the federal government the sole provider of student loans.

“In one fell swoop, House Democrats have confirmed that a so-called public option will lead to a government takeover,” said Congressman Price. “During the nineties, Democrats sold the government-run Direct Loan program as a way to bring more ‘competition’ into the student loan market. Today, they voted to turn the bureaucratic option into the only option. This will leave students and families without choices and flexibility in securing the financial aid that meets their individual needs. What’s more, this misguided plan will leave thousands of hard-working people out of work in the midst of an economic downturn.

“To sell this bill, the majority uses blatant gimmicks to say it will reduce the deficit, but the truth is it will cost taxpayers an extra $50 billion over the next decade, cost jobs, and cost choices. Did Democrats think no one would notice the incredible parallels to the current health care debate? Considering their vehement arguments in favor of a government-run plan for health care, the sheer arrogance it took to bring this bill to the floor is absolutely astounding. The American people will not be fooled.”