Joint Statement From Six Student, Youth, Consumer, and Education Organizations on Senate Vote on Student Loan Interest Rates

July 10, 2013
On July 10, a minority in the Senate succeeded in blocking legislation to reverse the doubling of interest rates on subsidized Stafford loans for students who need to borrow for college this fall. While a majority of senators voted to extend the 3.4% rate for one year, support fell short of the 60 votes needed to move forward with the legislation.