05.14.15

Statement on 2015-2016 Student Loan Interest Rates

 

WASHINGTON – Committee on Education and the Workforce Committee Ranking Member Robert C. “Bobby” Scott (D-VA), issued the following statement on the student loan rates for the 2015-2016 academic year:

 

“For the 2015-2016 academic year, the interest rates on federal loans based on the 10-year Treasury Note will fall from 4.66 percent to 4.29 percent. Though this is good news for next year’s borrowers—who will be able to take advantage of historically low interest rates—it still leaves current borrowers locked into higher rates. Congress must reassess rules that still restrict current borrowers from refinancing their loans, to ensure that students and families are not overburdened with debt upon graduation. I am hopeful that we can work to continue to make higher education more affordable and available to all students.”

 

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