mr. chairman , i rise in opposition to the amendment . 
mr. chairman , i yield myself such time as i may consume . 
mr. chairman , last year congress took action to shut down these excess subsidies that are paid to lenders through the 9.5 percent floor loans . 
that led to the taxpayer-teacher protection act , which was crafted to immediately halt the practice while ensuring that this issue would ultimately and permanently be addressed in the higher education reauthorization act . 
now that bill , the reauthorization of the higher education act , is to be before the committee on education and the workforce immediately upon the return of congress from the july 4 district work period . 
and we do expect that we will look at this in a comprehensive way . 
and while i share some of the concerns of my colleague from maryland ( mr. van hollen ) xz4004150 , we have got to be very careful as to how we proceed in this area . 
there are a lot of nonprofit lenders across the country who were the recipients of these 9.5 percent loans ; and if we were to adopt the gentleman 's amendment , we could cause many of these nonprofit students lenders to be put out of business . 
and i think the gentleman realizes that we have been going through a very methodical process of trying to make some determination about how to shut these loans down permanently and how to deal with the issue of recycling . 
i wish it was as clean and easy as saying , we are just not going to do it any more . 
but as i have looked at this and i think others have looked at it , it is just not that easy . 
but as the committee deals with the higher education reauthorization next month in both the subcommittee and full subcommittee , there is no question that this issue will be dealt with in its entirety . 
with that , i would ask my colleagues to oppose the gentleman 's amendment . 
i would really like to ask him to withdraw the amendment and allow the regular process , the regular order , to occur in the committee . 
mr. chairman , i reserve the balance of my time . 
