Congresswoman Annie Kuster (NH-02) today released the following statement after the House voted to approve compromise legislation to keep the interest rate low on subsidized Stafford loans. The Senate passed this legislation earlier this month by a vote of 81 to 18, and it now heads to President Obama’s desk to be signed into law.

“This compromise bill isn’t a perfect fix or a permanent solution, but it will protect New Hampshire students from a harmful rate hike and give both parties time to work together on a comprehensive, bipartisan plan to address college affordability. At a time when higher education has never been more important or expensive, Granite Staters are counting on Congress to do the right thing and help keep college within reach of students and middle class families. Today’s vote was a small but important step in that direction.”

Kuster has been outspoken about the need for Congress to take action to protect students and middle class families from a doubling of the student loan interest rate. Last month, she sent a letter to House Speaker John Boehner and Majority Leader Eric Cantor urging them to keep the House of Representatives in Washington until Congress took action to prevent a rate hike. She also wrote an op-ed once again calling on Congress to freeze the student loan interest rate at the lower 3.4%.

In recent months, Kuster has held roundtables at Nashua Community College (NCC), Plymouth State University (PSU), and River Valley Community College, as well as a telephone town hall with thousands of Granite Staters, to hear how students and middle class families would be impacted by a doubling of the student loan interest rate. She also launched an online survey to hear from Granite Staters about how a doubling of the interest rate on student loans would impact their families.

###

Press Release:
Rob Friedlander, (202) 225-5206