Monday, April 30, 2012
Congressman Reed Urges Congress to Keep Student Loan Rates Low
The House of Representatives has passed legislation preventing student loan interest rates from increasing on July first.
Congressman Tom Reed voted in support of keeping student loan rates low and not having them double on July 1st. The act is called the Interest Rate Reduction Act, which will keep the interest rate on federally subsidized student loans at 3.4 percent. Congressman Reed said he was glad to support this act and happy that July first won’t mean more financial hardships for college graduates.