Loebsack, Bustos Call on Speaker Boehner to Allow Vote on Student Loan Bill Before Interest Rates Double on July 1 PDF Print E-mail
News Releases - Education & Schools
Written by Joe Hand   
Friday, 21 June 2013 08:52

Student Loan Relief Act Supported By Loebsack & Bustos Would Prevent Stafford Student Loan Interest Rates From Doubling & Making College More Expensive


With Only Six Scheduled Legislative Days Before July 1, Loebsack & Bustos Urge Action On Common Sense Bill

WASHINGTON, D.C. – Today, Congressman Dave Loebsack (IA-02) and Congresswoman Cheri Bustos (IL-17) sent a letter to House Speaker John Boehner and Majority Leader Eric Cantor urging them to allow a vote on their bill to prevent student loan interest rates from doubling on July 1st.  The Student Loan Relief Act of 2013 (H.R. 1595), supported by Loebsack and Bustos, is a common sense bill that would keep interest rates on federally subsidized Stafford student loans locked in place at 3.4 percent so that hardworking families across Illinois and Iowa are not burdened by higher costs for college come next school year.

Without action from Congress, interest rates on federally subsidized Stafford student loans will double from 3.4 percent to 6.8 percent on July 1st.  There are currently only six scheduled legislative days left before this rapidly approaching deadline

A copy of the letter from Loebsack and Bustos can be found HERE.

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