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Congresswoman Elizabeth Esty

Representing the 5th District of Connecticut


Esty Statement on President Obama Signing the Student Loan Bill into Law

August 9, 2013
Press Release

WASHINGTON, DC – Congresswoman Elizabeth Esty released the following statement regarding the signing of the bipartisan bill to reduce student loan interest rates into law by President Obama today:

“I applaud the signing of this bipartisan compromise that will reduce student loan interest rates for students and families this upcoming school year. With interest rates on undergraduate Stafford loans having doubled to 6.8%, Congress needed to act. While the law is not perfect, it will immediately lower rates to 3.86%. The law will also fix rates for the entire life of the loan, which will provide predictability that students and their families need to plan for college and their futures.”

“With Connecticut students drowning in over $28,000 of student loan debt on average, more must be done to address the skyrocketing cost of college. I am working with my colleagues to craft a comprehensive solution to help make college more affordable.”