Washington, D.C. (Northland's NewsCenter) --- U.S. Senator Amy Klobuchar met with University of Minnesota - Duluth students to discuss the rising cost of college tuition.
According to Senator Klobuchar, an estimated 200,000 Minnesota students could see their student loan interest rates double in the next school year if Congress does not act on the rising tuition costs.
“Today’s meeting highlighted the strains that rising costs for education are putting on students and their families, and burdening students with thousands of dollars in additional debt is simply unacceptable," added Sen. Klobuchar. "I will continue to work to ensure education remains affordable for students in Minnesota and across the country.”
On July 1st, interest rates on federally subsidized Stafford student loans will double from 3.4% to 6.8%.
However, if passed, the Student Loan Affordability Act would prevent the interest rate on student loans from doubling.
Posted to the web by Krista Burns