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Sen. Reed Visits RWU to Warn of Student Loan Interest Hike

The current 3.4-percent interest rate on federal Stafford Student Loans will double on July 1 unless Congress acts.

 

U.S. Sen. Jack Reed (D-RI) is scheduled to speak at Roger Williams University this morning to call for Congressional action on student loan interest rates, which will double to 6.8 percent on July 1.

Reed will join students and faculty at a planned 11:30 am speaking program at the Global Heritage Hall Atrium on Old Ferry Road.

According to a release provided by RWU, the average college graduate in 2007 carried about $17,000 in debt; in 2012, that number was $27,250 — a 58-percent increase.

Reed is expected to speak about a bill he submitted to freeze student loan interest rates for two years to allow Congress another chance to address the recent explosion in student debt.

University President Donald J. Farish and students, including at least one graduating senior, are expected to speak as part of this morning's program.

Jack Baillargeron May 01, 2013 at 02:10 PM
So let me get this straight; The Universities are complaining about the raise of 58% they did on students, and want my taxes raised so the students can pay universities. Something wrong with this logic. Though I can see a polition agreeing and thinking it is logical a common sense person however see's through this fallacy.
dave May 01, 2013 at 05:33 PM
So Reed is complaining that since Whitehouse has joined the Democratic Super Majority of the Senate in 2007 they have combined to raise student debt by 58%. Great. Congratulations to both of the senators on another "unexpected" result.

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