Move to Stop Loan Rate Hike

Published 05/03 2012 04:28PM

Updated 05/03 2012 05:59PM

DECATUR -- Lawmakers are working on a plan to save students money on their college loans. The interest rate on federal Stafford Loans is set to double July 1, 2012.
    Today, Senator Dick Durbin (D - Illinois) discussed a senate proposal to stop the student loan interest rate hike. The move would save each student more than $1,000 over the life of a loan.
    One Millikin University student says it's money she could really use. The interest rate hike would affect more than 365,000 Illinois students.

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