Welch Announces Plan To Limit Student Loan Interest Rates

04/16/12 12:04PM

Congressman Peter Welch says he has a plan to head off the scheduled doubling of student loan interest rates.

Welch outlined his ideas during an event Monday with students and their families, as well as representatives of the Vermont Student Assistance Corporation.

Welch says student loan debt in the United States has reached $870 billion.

He says that's more than credit card and auto loan debt and the trend is expected to continue. So he wants to make the loans more affordable.


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