Students can breathe a sigh of relief today. At least for the next year, student strapped with debt will get a temporary reprieve from doubling interest rates on their loans borrowed next year.
We did it.
Over 7 million students will save an average of $1,000 in loan repayments, helping us become the next generation of teachers, doctors, and innovators.
Statement of Rich Williams, U.S. PIRG Higher Education Advocate, on the Congressional passage of bipartisan legislation to prevent subsidized Stafford student loan interest rates from doubling.
Washington, D.C. – Over 9 million students are at risk for increased educational debt, due to bank-affiliated student debit cards that come with high fees, insufficient consumer protections, and few options. Financial institutions now have affinity partnerships with almost 900 campuses nationwide, grafting bank products onto student IDs and other campus cards to become the primary recipient of billions in federal financial aid to distribute to students.
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