“Congress needs to act quickly so the more than 260,000 students in Indiana with loans can save an average of nearly $1,000 over the life of their loans,” said Donnelly. “We need to make every effort to encourage students and Hoosiers seeking retraining opportunities to be able to access affordable higher education, and keeping student loan interest rates low helps in this effort. We have the best workers in the world here in our state, so we must equip them with the most up-to-date skills to get and keep good-paying jobs.”
Donnelly previously supported cutting student loan interest rates in half–lowering them from 6.8% to 3.4%–in 2007. If Congress doesn’t act by June 30th, these rates will increase back to their original rate.