Markey: Student Loan Interest Rate Increase “Unconscionable”

Contact: Eben Burnham-Snyder, Rep. Ed Markey, 202-225-2836

WASHINGTON (July 1, 2013) -- Rep. and Senator-elect Ed Markey (D-Mass.) released the following statement today regarding the increase in the interest rates on federally-backed student loans.

“It is unconscionable that interest rates on student loans are being allowed to double at a time when many students already are facing mountains of debt. We should be investing more in our educational systems to provide opportunities for every student to achieve the American dream. Congress should act immediately to freeze interest rates and then quickly put in place policies that ensure a stable and affordable interest rate for federally-backed student loans before students begin signing loan agreements for the fall semester.”

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