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Senator To Meet With Students, Faculty, Administrators On Student Loan Rates

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File photo of a college campus. (credit: Getty Images)

File photo of a college campus. (credit: Getty Images)

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WILLIMANTIC, Conn. (AP) _ Sen. Richard Blumenthal is visiting Eastern Connecticut State University in Willimantic to discuss interest rate increases on student loans.

Blumenthal is set to meet with students, faculty and administrators Monday morning to discuss how they will be affected by the rate increases.

Rates on subsidized Stafford student loans doubled from 3.4 percent to 6.8 percent on July 1, after an effort to prevent the increase failed in Congress. More than 7 million students nationwide could face an additional $1,000 in student loan debt.

Blumenthal wants Congress to retroactively prevent the rate increase. He’s also participating in a social media campaign against the rate hike.

Democratic senators and White House officials say they expect a deal on bringing the rates back down to be reached before students return to campus.
(© Copyright 2013 The Associated Press. All Rights Reserved.)

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