Murphy Applauds Passage of Bipartisan Bill to Put Students First

Press Release

U.S. Representative Patrick E. Murphy (FL-18) made the following statement following the passage of a bipartisan student loan deal that Congress passed yesterday to address the student loan interest rate hike that took place on July 1st, causing the loan rate to double from 3.4% to 6.8%. This compromise is a long-term, bipartisan solution that ties the interest rate of federal Stafford loans to the interest rate at which the government borrows money. This deal includes a cap on the student loan interest rates to keep higher education in reach for future students and to save middle-class families from having to choose between paying their mortgage and sending their kids to college.

"By working together, the House and the Senate were able to put our nation's students and middle class families first, providing over $25 billion in student loan debt relief over the next six years," said Murphy. "Although long overdue, this deal shows the American public what Congress can do when we work together to put the people first and will help ensure that our students can finish college and have the skills they need."

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