Welch to discuss student loan interest
The Associated Press
SOUTH BURLINGTON — Vermont's lone representative to the U.S. House is going to be talking about what he sees as a need to prevent an increase in the interest rates charged on federal student loans.
Welch, a Democrat, is going to be meeting with reporters Tuesday at the Burlington International Airport to discuss the issue.
If Congress doesn't act, on July 1, the interest rate charged on some student loans would increase from 3.4 percent to 6.8 percent.
Last year Welch helped beat back an effort to increase the rate.
Welch and others argue Congress shouldn't make it more expensive for students to get an education.
But supporters of allowing the rate to increase counter the lower rate would cost the government billions of dollars a year.