COLUMBUS – State Rep. Michael Stinziano (D – Columbus) released the following statement regarding the doubling of student loan interest rates. Congressional action is needed or student loan interest rates will double on July 1.
“I urge members of Congress to put politics aside and work together to stop the looming rise in student interest rates. The key to economic growth in Ohio and across the country is a well-educated workforce prepared to lead the world. If Congress allows interest rates to double, graduates will be saddled with more debt inhibiting their critical participation in local communities and discouraging others from pursuing a college degree simply due to the rising cost of tuition.
Rep. Phillips and I introduced a resolution in the House urging Congress to stop the rise in student interest rates because we recognize that today’s college students are the community leaders of tomorrow. By allowing student interest rates to double, Congress not only jeopardizes the future of our college students but the future economic wellbeing of our country,” said Rep. Stinziano.