Boxer Statement on Senate Vote to Protect College Students from Rate Hike

Press Release

U.S. Senator Barbara Boxer (D-CA) praised the Senate's passage of legislation today that will keep interest rates on student loans from doubling from 3.4 percent to 6.8 percent on July 1.

Senator Boxer said, "The Senate's vote today will save 570,000 California students from having to pay thousands more for their education. Too many students and their families are struggling with the rising costs of college, and this legislation will help keep college affordable for all our families."

The student loan measure was passed by both the House and Senate as part of a broader package that included the transportation bill. Senator Boxer, Chairman of the Senate Environment and Public Works Committee, chaired the House-Senate conference committee that produced the bipartisan transportation bill -- Moving Ahead for Progress in the 21st Century (MAP-21) -- which will save or create about 3 million jobs.

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