Frankel Helps Pass Bipartisan Student Loans Bill

Press Release

Congresswoman Lois Frankel today helped pass a bipartisan student loans bill that reverses the student loan rate hike that went into effect on July 1. Now that the bipartisan bill has been passed by the House and Senate it will be sent to President Obama to be signed into law.

"This bipartisan compromise on student loan interest rates is a victory for today's students and families in South Florida," Frankel said. "Congress should continue to work together in a bipartisan manner to ensure a college education is affordable for everyone because it's one of the most important pathways to economic prosperity."

Getting a college education has an economic benefit. A Georgetown University study found a college graduate earns over $1 million more over a lifetime than a non-graduate.

College affordability is critical to students, families and Florida's economy. According to the Department of Education, over 462,000 Floridians have federally subsidized loans. Recent college graduates in Florida have an average of more than $23,000 in student loan debt.

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