Today, U.S. Representative Martin Heinrich (NM-1) voted to prevent student loan interest rates from doubling at the end of the month. The one-year extension will keep rates on Stafford student loans at 3.4 percent through June 2013.
"We need to give students a fair shot at succeeding in a tough economy, not saddle them with debt. I'll always fight to strengthen the middle class and work to make college more accessible to all New Mexicans, drive economic prosperity, and help today's students become the innovative minds of tomorrow."
Without this action today, the loan rates for 7.4 million college students would have doubled this weekend, adding $6.3 billion to student's debt burden in just one year.