Students & law makers discuss loan rate increase - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Students & law makers discuss loan rate increase

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PALM BEACH GARDENS, FL (WFLX) - Students had the chance to discuss the loan rate increase with law makers Monday morning at Palm Beach State College.

Representatives Lois Frankel, Ted Deutch and Patrick Murphy led the round table discussion.

Interest rates doubled by nearly four percent on July 1. Law makers say that would potentially hurt future graduates and overall the economy.

Congressman Deutch says students shouldn't have to worry about paying extra for education. "We should actually move forward with a plan, a number of us are co-sponsoring that the administration supports, that actually freezes it at 3.4 percent -- rolls it back to where it was. That's how we're going to save students money, and let them focus on their studies which is what they ought a be able to focus on."

The senate could vote Wednesday on a extension of the lower rates for one more year.

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