Hunter College students demand Congress act to stop student loan rates from doubling

Posted at 7:40 PM, Jun 29, 2013
and last updated 2013-06-29 19:40:11-04

A huge deadline is looming for students and graduates with federal loans.

Hunter College students joined with members of New York’s congressional delegation to demand Washington act immediately to stop interest rates from doubling next week.

Representatives Carolyn Maloney, Charles Rangel and Gregory Meeks warn there will be dire consequences if Congress doesn’t stop Stafford loan rates from rising to 6.8%.

The lawmakers are co-sponsors of the “Student Loan Relief Act” which would delay the rate hikes for two years.

Conservative republicans want to see the rate tied to the 10-year Treasury note yield.