Senator Sanders’ Warning on Student Loans
WASHINGTON, June 26 – Citing a major crisis in college costs, Sen. Bernie Sanders (I-Vt.) today urged quick action by Congress to keep student loan interest rates from doubling on Monday.
“If we do not act immediately, the subsidized Stafford loan program will see a doubling of interest rates from 3.4 percent to 6.8 percent,” Sanders said in a Senate floor speech. “That would be a disaster for millions of students and their families in our country. We must not allow that to happen.”
At the very least, Sanders said, the current Stafford loan program interest rate of 3.4 percent must be extended. In the long term, the Higher Education Act should guarantee that students will be able to attend college and not be burdened with crippling loans.



