About 22,000 University of Cincinnati students, and about 382,000 college students throughout Ohio, would have to pay more for student loans if Congress doesn’t reverse an impending doubling of interest rates for federally insured Stafford loans, U.S. Sen. Sherrod Brown, D-Ohio, said Thursday.
Speaking at the University of Cincinnati, Brown noted the rates would double to 6.8 percent July 1 if the Congress doesn’t freeze them. That could cost students an average $1,000 over the life of the loan.
“We need students to have access to higher education and to do it without oppressive debt,” Brown said.
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