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Published on Jun 29, 2012
Today the House passed a bipartisan one year extension of the current interest rate for federally subsidized student loans. This is a good thing for students across the country.
But as we celebrate this accomplishment, let's keep our eye on the larger picture. We wouldn't be worried about these interest rates if not for the fact that the economy is still so weak, and the cost of education so high.
According to the Department of Education the savings will be seven dollars a month for the average Stafford Loan borrower. While it may not seem like a lot, each dollar counts for a college graduate still searching for a good paying job.
We can have a larger effect for students by working to repeal federal unfunded mandates that drive up the cost of college tuition, and by working to put the wheels back on the economy. As a member of the subcommittee for Higher Education and Workforce Training, I am committed to making that happen.
Let's work together to ensure that students can secure a quality education at a reasonable cost, and get great jobs when they graduate.