mr. chairman , i yield myself the balance of my time . 
the gentleman from maryland ( mr. van hollen ) xz4004150 seeks to , as he says , prospectively end the practice of recycling new loans through these 9.5 percent bonds that are out there . 
but here is the problem : some of these nonprofits student loan lenders around the country have these bonds in place for the next 5 , 10 , some even 15 , years . 
and if we were to end the practice of recycling new loans through there , we would put those nonprofit lenders literally out of business because those bonds were sold to the public under this 9.5 percent scheme . 
now , i am as disgusted by this scheme as the gentleman from maryland is , i can tell you ; and why this practice went on for as long as it has is really very troubling to me . 
but having said that , for nonprofit lenders who had gone out and secured bonds with the backing of these 9.5 percent interest rate loans , i think that with the adoption of this amendment we could cause great problems with many of the lenders that are all across the country that help fund student loans for many needy students . 
so i would ask my colleagues to oppose this amendment . 
this is a very dangerous step that could affect the ability of millions of american students to get a student loan to allow them to go to a post-secondary institution . 
and , secondly , the committee is in fact going to deal with this . 
the gentleman from maryland is well aware that the committee is going to deal with this as we reauthorize the higher education act . 
again , i would urge my colleagues to vote `` no '' on the amendment . 
mr. chairman , i yield back the balance of my time . 
