April 27, 2012 12:26 AM UTC

Scott Tipton Defeats Scott Tipton in Tipton Faceoff

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• by: Colorado Pols

In late March, Republican Rep. Scott Tipton voted in favor of the House Republican Budget that would allow the interest rate for student loans to double in July.

Two days ago Tipton told the Denver newspaper that he was “looking forward” to trying to lower student loan interest rates.

So what would Tipton do today when the issue came up in Congress?

He voted against a measure that would have prevented the interest rate increase. From the DCCC (full release after the jump):

Tipton Voted Against a Plan to Prevent an Increase in Student Loan Interest Rates. On April 26, 2012, House Republicans voted against considering the Stop the Rate Hike Act of 2012. The measure would keep interest rates on need-based student loans at 3.4 percent in 2013, saving borrowers an average of $1,000 in loan repayment costs. Costs for the measure would have been offset by ending tax breaks for Big Oil.

It’s one thing to vote twice on allowing student loan rates to double, but it’s another problem entirely to talk out of the other side of your mouth while you do it. Sometimes we almost wonder if Tipton wants to lose in November.

Today, Representative Scott Tipton (CO-03) blocked consideration of a bill that would prevent student loan rates from doubling on July 1st for Colorado students and families. Tipton already voted for the Republican budget that allows student loan rates to double and today’s vote would cost 166,693 Colorado students and families with student loans another $130,075,601. Two-thirds of all college students graduate with student loan debt and the average college graduate has $25,000 in student loan debt.

“Representative Scott Tipton refused to ensure that student loan rates don’t double for Colorado students and families on July 1st,” said Jesse Ferguson of the Democratic Congressional Campaign Committee. “Tipton would rather protect Big Oil subsidies even if it means doubling student loan rates for 166,693 Colorado students and families. Instead of investing in America’s future and allowing students to get a fair shot at an affordable college education that helps them get a good-paying job, Tipton chose higher interest rates for students and more tax breaks for Big Oil companies making record profits.”

The costs of preventing the student loan rates from doubling would be paid for by ending tax breaks for Big Oil companies.

BACKGROUND

Tipton Voted Against a Plan to Prevent an Increase in Student Loan Interest Rates. On April 26, 2012, House Republicans voted against considering the Stop the Rate Hike Act of 2012. The measure would keep interest rates on need-based student loans at 3.4 percent in 2013, saving borrowers an average of $1,000 in loan repayment costs. Costs for the measure would have been offset by ending tax breaks for Big Oil. [H.Res. 631, Vote #182, 4/26/12; Rep. Tierney Press Release, 4/25/12; HR 4816, 112th Congress]

Tipton’s Plan Would Allow the Interest Rate for Student Loans to Double. “There was wide agreement among members of Congress Wednesday that loans and grants are important, but there were questions about the $6 billion Obama proposal that would hold interest rates constant next year. Ryan’s budget would allow the rate to double as planned.” [Inside Higher Ed, 3/29/12]

“House GOP leaders are already on record this year opposing the student loan benefit. The GOP’s 2013 budget proposal, sponsored by Rep. Paul Ryan (R-Wis.), would have returned the Stafford rate to 6.8 percent” [The Hill, 4/25/12]

“In the House, which recently adopted a budget authored by Rep. Paul Ryan (R-Wis.) which did not envision extending the lower loan rate, House Speaker John Boehner (R-Ohio) told reporters Wednesday that Democrats and Republicans were working on the issue.” [Washington Post, 4/25/12]

166,693 Colorado Students Had Loans in the 2012-2013 Academic Year.  [Education and Workforce Committee, accessed 4/26/12]

Tipton Voted for the House Republican Budget. On March 29, 2012, Tipton voted in favor of the House Republican budget. [H Con Res 112, Vote #151, 3/29/12]