Gwen Moore to Host Press Conference to Call for Stop to Doubling of Student Loan Rates
Washington, DC,
April 30, 2012
On Thursday, May 3, Congresswoman Gwen Moore (WI-4) will host a press conference urging her Republican colleagues to stop the potential doubling of student loan rates on July 1st of this year.
Contact: Nicole Y. Williams or Staci Cox (202) 225- 4572 Gwen Moore to Host Press Conference to Call for Stop to Doubling of Student Loan Rates Milwaukee, WI – On Thursday, May 3, Congresswoman Gwen Moore (WI-4) will host a press conference urging her Republican colleagues to stop the potential doubling of student loan rates on July 1st of this year. Unless Congress acts, on July 1, the interest rate on need-based student loans will double – rising to 6.8 percent. This would raise costs for more than 7 million students. The House Republican budget, which they passed March 29, allowed the interest rate to rise to 6.8 percent. Congressional inaction will result in passing $6.3 billion in additional repayment costs onto students for the coming school year – with the typical student borrower paying $1,000 in additional costs. On April 27, House Republicans played political games with this critical issue – passing a partisan bill that blocks the increase but pays for it by undermining the health of America’s women and children. This partisan bill does not give students needed relief; instead it has drawn a veto threat from the President. By contrast, House Democrats have a bill that blocks the increase but pays for it by eliminating billions of dollars in tax subsidies to Big Oil. WHO: Congresswoman Gwen Moore (WI-4) Dr. Michael Rosen, President of Local 212, AFT Local Students WHAT: Press Conference on Student Loan Rates WHEN: Thursday, May 3, 2012 11:30 AM WHERE: Milwaukee Area Technical College Student Services Building (S Building) Atrium 700 West State Street (Enter through the main doors on State Street) ### For “Moore” News Updates Follow Gwen Moore on Twitter @RepGwenMoore and Like Gwen Moore on Facebook
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