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Donnelly Statement on Student Loan Interest Rates

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Washington, D.C. –Today, Senator Joe Donnelly released the following statement in advance of a procedural vote on legislation that would lower interest rates on new subsidized Stafford loans.
“Access to affordable, high-quality education is critical to closing the skills gap and creating the highly-skilled workforce that meets the needs of our economy.  It is my strong belief that Hoosiers should not be burdened with unmanageable debt in order to obtain a college degree.  I will support today’s proposal to lower rates on new subsidized Stafford loans and provide students with the certainty they need to plan for their education.  I also think it is critical that we continue bipartisan conversations to find a responsible compromise that will lower rates and ensure there is a cap to protect student borrowers from unreasonable rate increases in the future. The government should not be making profits off of students trying to brighten their futures.  Our focus must be on putting their needs first.”
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