May 4, 2012
Essential Public Radio
In 2007, the College Affordability Plan gradually reduced interest rates from 3.4% to 6.8% on Federal Direct Stafford loans. If allowed to expire on July 1st, the interest rates on the student loans will return to 6.8%. U.S. Representative Mike Doyle (D-PA-14) is calling on Senators Pat Toomey (R-PA) and Bob Casey (D-PA) to pass H.R.4816, known as Stop the Rate Hike Act of 2012.
“This will prevent interest rates on student loans from doubling,