Tell Senate to Stop Student Loan Interest Rate Hike
A 2007 law that reduced the interest rate on Stafford Loans from 6.8 percent to 3.4 percent is about to expire. Without legislative action, subsidized Stafford loans will return to the 6.8 percent interest rate on July 1, 2012.
More than 10 million students each year use subsidized Stafford loans to help pay for college. With rising tuition costs, attending college is already difficult for many students, and the increase in interest rates would put a college education out of reach for many people.
Fortunately, there is hope. Senators Patrick Leahy and Bernie Sanders recently introduced legislation to stop student loan interest rates from doubling this summer.
Tell Senators to take swift action to pass the bill to keep college affordable for students and working families.
We the undersigned call on you to take swift action to pass the bill introduced by Senators Leahy and Sanders that would stop student loan interest rates from doubling this summer.
A 2007 law that reduced the interest rate on Stafford Loans from 6.8 percent to 3.4 percent is about to expire. Without legislative action, subsidized Stafford loans will return to the 6.8 percent interest rate on July 1, 2012.
More than 10 million students each year use subsidized Stafford loans to help pay for college. With rising tuition costs, attending college is already difficult for many students, and the increase in interest rates could put a college education out of reach for many people.
We therefore urge you to pass the new bill to keep college affordable for students and working families. Thank you for your attention to this important matter.
