Posted: Friday, 31 May 2013 11:42AM

Student Interest Rates--Walz



First District Congressman Tim Walz joined students on the  Minnesota State University-Mankato campus Friday in calling for Congress to prevent student loan interest rates from doubling.
     
Walz said if Congress fails to act before July 1, interest rates on subsidized Stafford student loans will double from 3.4% to 6.8%, piling billions of more dollars of debt onto the backs of students across Minnesota and the country.
      
Recently, Walz joined over 100 of his colleagues to co-sponsor legislation that would lock in the low 3.4% rate for two years and allow lawmakers time to work out a long-term, bipartisan solution to tackle the student loan issue as part of a comprehensive effort to end the student debt crisis and make college more affordable.
      
Walz said students at Minnesota public and private universities currently graduate with an average debt load of nearly $30,000-the third highest in the county.

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Topics : Business_FinanceEducation
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Locations : Minnesota
People : Interest RatesTim Walz
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