Mary Jo Kilroy Commits to Lower Student Loan Interest Rates

Press Release

Mary Jo Kilroy Commits to Lower Student Loan Interest Rates

Vows to make higher education affordable for Central Ohio families

Mary Jo Kilroy, Franklin County Commissioner and candidate for Congress in Ohio's 15th Congressional District, renewed her commitment to affordable higher education and celebrated the first installment in a series of three federal student loan interest rate cuts which will save Ohio college students an average of $4,320 over the life of their loans. This is especially important because the cost of an education at The Ohio State University was raised by almost 13% in 2004. The rate decrease goes into effect tomorrow, July 1, 2008. This is the first rate decrease in 60 years and was part of the College Cost Reduction and Access Act passed by Congress in 2007.

"I worked my way through college and know how much of a struggle it can be to afford a good quality education," Mary Jo said. "This is some very good news for Central Ohio families who have seen rising healthcare costs, gas prices spiral out of control, and terrible wage and job growth under the Bush administration."

Mary Jo also pointed to Governor Strickland's freeze of college tuition in Ohio as an example of how bold, new priorities have changed Ohio for the better and how Washington needs to do the same. After 16 years of one party Republican rule in Ohio, Governor Strickland successfully froze college tuition and has embarked on an ambitious overhaul of the State University System which will train the next generation for the good jobs of the future. In addition, Mary Jo noted her support for The College Cost Reduction and Access Act that slashes federal loan rates in half, increases federal Pell Grants and offers tuition assistance for students willing to teach high-need subjects in high-need areas.

The first installment of the rate reduction takes place tomorrow, lowering rates from 6.8 to 6.0 percent. These rates will continue to fall in installments until reaching 3.4 percent. "I will work with people from both sides of the aisle to make college a reality for middle class families," said Mary Jo.

Mary Jo Kilroy is a Franklin County Commissioner and is running for Congress to bring people together, end the war in Iraq, stimulate the creation of good jobs and expand the access of affordable healthcare for every American. The Congressional District encompasses western Franklin County and the city of Columbus and all of Madison and Union counties.

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