Outgoing Purdue student body president pushes for lower loan rates
Purdue’s outgoing student body president is calling on Congress to keep subsidized student loan interest rates low.
Brett Highley joined student body presidents of 200 other colleges in signing a letter that requests lawmakers take necessary action to prevent rates from doubling.
He says that’s another obstacle recent graduates can’t afford to face in this economy.
The National Campus Leadership Conference reports average college students are graduating with about $25,000 in loan debt.
The organization adds that for each year Congress does not take action to lower rates, average student loan debt will increase by about $1,000.
The House voted last week to keep rates at 3.4-percent.
There is no bill yet in the Senate.