Washington, D.C. - Rep. Bruce Braley (IA-01) today released the following statement after voting in favor of a bipartisan compromise that will extend low student loan interest rates for one year. The House voted to pass the compromise bill minutes ago by a vote of 373-52.
"Iowa college students can breathe a sigh of relief now that the student loan interest hike will be blocked for a year. Iowa college graduates have the 3rd highest student debt load in the nation. Thankfully, this bipartisan compromise ensures that more debt won`t be piled even higher on them.
"Keeping college within reach of more students means that new economic opportunities will open to more young Iowans."
In January 2012, Braley co-wrote and introduced the first legislative proposal to block the student loan interest hike. The Keeping College Affordable Act would have indefinitely extended the low, 3.4 percent interest rate on federally subsidized Stafford student loans. For more information, visit: http://go.usa.gov/waf.
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