Leahy And Sanders Join Bill To Prevent July Interest Rate Hike On Stafford Student Loans
WASHINGTON, Feb. 1 – Vermont’s two U.S. Senators, Patrick Leahy (D-Vt.) and Bernie Sanders (I-Vt.), Wednesday joined in introducing legislation to stop student loan interest rates from doubling this summer. In 2007 Congress passed the College Cost Reduction and Access Act, which reduced the fixed-interest rate on Stafford Loans from 6.8 percent to 3.4 percent, helping millions of American students