Portsmouth Daily Times: Brown introduces college loan legislation

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Portsmouth Daily Times: Brown introduces college loan legislation

U.S. Sen. Sherrod Brown (D-OH) says more than 360,000 students across Ohio would be forced to pay thousands more each year in college loan costs unless Congress acts to block the interest rate from doubling on federally-subsidized Stafford loans by July 1, 2013. On Wednesday, Brown introduced legislation that would maintain the current interest rate, which is set at 3.4 percent, and prevent a hike to 6.8 percent scheduled for July 1.

“Students and their families are excited about graduation time,” Brown said. “It’s a hopeful time for people, whether they went to Kent State or Sinclair, or Cincinnati State, or O.U. (Ohio University), or the University of Toledo, or Dennison, or wherever. We also know that young people look forward to their post-college futures, far too many of them leave campus with a lifetime debt, or at least a huge debt.”

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