SHAHEEN STATEMENT ON SENATE PASSAGE OF STUDENT LOAN INTEREST RATE COMPROMISE

(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) released the following statement today after the Senate voted 81-18 in favor of a compromise to keep interest rates low on federally subsidized Stafford loans. As of July 1, interest rates on Stafford loans doubled from 3.4% to 6.8%.

"While today's compromise was not a perfect solution, it was a crucial agreement that will protect American students and middle class families. Affordable higher education is one the best economic investments our country can make and it is so important that we do everything we can to make college more affordable and accessible, not more expensive and restrictive. For our students and for our country, this compromise was a necessary step to give our nation’s young people the educational opportunities they need to succeed.”