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.
Each year, more than ten (10) million students use subsidized Stafford loans to help pay for college. With rising tuition costs, attending college is very difficult for many students, and the increase in interest rates would cause a college education to be out of reach for many college age people.
With that knowledge, Senators Patrick Leahy and Bernie Sanders recently introduced legislation to stop student loan interest rates from doubling this summer. Tell your elected officials in Washington, DC to take swift action to pass the bill to keep college affordable for students and working families.
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