Rep. Hansen Clarke: One-year cap on interest rates is a band aid; student loan borrowers demand real relief
"I support the one-year extension to the 3.4% interest rate for federal student loans, but this band aid does not solve the problem. Congress must reduce the current $1 trillion student loan debt burden on our families. The student loan system in this country is broken and over one million Americans are calling on Congress to fix this problem by passing H.R. 4170, The Student Loan Forgiveness Act of 2012," said Rep. Hansen Clarke.