College & Workforce Readiness

Campaign to Stop Student-Loan Rate Hike Intensifies

By Caralee J. Adams — April 23, 2012 1 min read

The cry to keep federal student-loan interest rates from doubling in July is getting louder.

On Saturday, President Obama dedicated his weekly radio address to the call to stop federally subsidized Stafford loans from rising from the current 3.4 percent to 6.8 percent. He is taking his message on the road this week.

Then on Monday, probable Republican presidential nominee Mitt Romney joined the chorus. My colleage Alyson Klein has more on this over at the Politics K-12 blog.

Rich Williams, higher education advocate for US PIRG, framed Romney’s position as evidence the issue is non-partisan. In recent weeks, student groups have lobbied on Capital Hill in hopes of convincing representatives that the planned interest-rate increase would hurt college access and completion.

Stay tuned to see how Congress reacts this summer. Students are lucky it’s an election year.

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A version of this news article first appeared in the College Bound blog.