Delegation Speaks Out Against Student Loan Rate Increase

05/09/12 6:06AM

Vermont's congressional delegation is speaking out against the planned doubling of the interest rate on a big student loan program.

The Stafford loan program's interest rate, currently 3.4 percent, is set to double July 1, and Senate Republicans voted Tuesday to block an effort to keep that from happening.

Senator Bernie Sanders says that's not good news for people just coming out of college and trying to get careers started in a tough economy.

Congressman Peter Welch several weeks ago set up a website where Vermont students and families could tell of their struggles with student debt.

He plans to relay some of those stories in a House floor speech Wednesday.

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