Higher Ed

Report | U.S. PIRG | Higher Ed

The Cost of College Will Soar if Interest Rates Allowed to Double

The loans distributed by the U.S. Department of Education currently hold an interest rate of 3.4 percent. But that rate is set to double if Congress fails to act by July 1, 2012. If that occurs, millions of students will see their interest rates soar to 6.8 percent on the new loans they take in the next year thereby causing a steep rise in their loan burden and effectively increasing the cost of attaining a college degree.

News Release | Higher Ed

Senators Block Bill to Keep Student Loan Interest Rates From Doubling On July 1

“The bottom line is that this is important to future graduates and their families, it is a top concern among students, and has support from across the political spectrum."

Media Hit | Higher Ed

Obama, Romney focus on student debt as campaign issue

“This should send a clear message to Congress that this is a common sense nonpartisan issue,” said Rich Williams, higher education advocate for U.S. PIRG.

Media Hit | Higher Ed

New York Times: Student Loan Interest Rates Loom as Political Battle

Rich Williams, the higher education advocate for U.S. Public Interest Research Group, said he thought about 14 moderate Republican senators might support the effort to keep the interest rates down. “This should be a bipartisan issue,” he said. “It’s something everyone gets.”

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Sunday, April 8, 2012
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130,000 Letters Tell Congress: Don't Double Student Debt Rates

Thursday, March 29, 2012
By | Rich Williams
Higher Education Advocate

U.S. PIRG delivered 130,000 to Congress yesterday, encouraging them to keep the interest rates on federal Stafford student loans from doubling, as they are poised to do this summer.

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Media Hit | Consumer, Higher Ed

130,000 Letters Tell Congress: Don't Double Student Loan Debt

Without a new plan, the average subsidized Stafford loan borrower will pay $2,800 more by the time they repay their loans. The most needy students will pay a crushing $5,000 more on their student loan than they otherwise would.

How To Save Money on Textbooks

Wednesday, March 14, 2012
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News Release | The State PIRGs | Higher Ed

Students to Congress: Don’t Double Student Debt Rates

Washington, D.C. – With the student loan interest rate about to double this July for almost 8 million loan borrowers, MASSPIRG students and coalition partners deliver over 130,000 letters to Congress urging a different plan.

Stop student loan interest rates from doubling.

Wednesday, March 7, 2012
By | Hannah Hutchinson
MASSPIRG State Board Chair

This July, students will see their federal student loan interest rates DOUBLE unless Congress acts. If rates double some of us would pay almost $5,000 more to repay our loans.

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