Pallone to Meet with Monmouth University Students on Need for Stability in Student Loan Interest Rates

Unless Congress takes action, student loan interest rates will double on July 1

Long Branch, NJ—Congressman Frank Pallone, Jr. (NJ-06) will meet with a small group of Monmouth University students on Thursday, May 2 at 10:00 a.m. to discuss the need for certainty and stability in student loan interest rates.  Interest rates on need-based loans for more than 7 million students are set to double in July of this year, and the students will speak about the impacts to the Congressman. 

The majority of student loans are federally backed loans, and if Congress fails to act on this issue, the neediest students will pay $1,000 in additional repayment costs per year.  Last year as well, interest rates were set to double for student loans, until a public outcry compelled the Republican led Congress to extend the 3.4 percent rate through the 2012 - 2013 academic year.  Congressman Pallone has been a longtime and outspoken advocate for access to and affordability for higher education.

WHAT:

Congressman Pallone Meets with College Students to Discuss the Need for  Certainty and Stability in Student Loan Interest Rates

WHO:

Congressman Frank Pallone, Jr. (NJ-06)

Students of Monmouth University

WHERE:

Monmouth University

Wilson Hall, Room 103

400 Cedar Avenue

West Long Branch, New Jersey 07764

WHEN:

Thursday, May 2, 2013

10:00 a.m.