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.
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