Senator John Boozman says both Democrats and Republicans are working together to resolve the Student Loan interest rate increase on federal Stafford loans. He says a bipartisan group consisting of two Democrats, an Independent, and three Republicans have come together to come to a long-term agreement.
“Trying to get a long-term commitment, a long-term fix as opposed to just having another extension which we did last year and now we’re back in the same situation. Having a bill that will actually solve the problem so that our students can take advantage of the extraordinarily low interest rates so they can lock these rates in for the life of their loan,” he says.
Boozman says he would really like to solve the problem instead of just a temporary solution. “In regards to student loans, I really would like to fix the issue. I would like to make it such so we don’t kick the can down the road for another year or two.”
He says it would be great for students to have the loan behind them and be in a situation where they can have stability.