As Congress nears the July 1 deadline to keep interest rates on Stafford student loans from doubling, Campus Progress Action will host Senator Kirsten Gillibrand (D-NY) on June 26, along with a panel discussion among experts regarding student debt and its impact on the economy, at the Center for American Progress.
While Congress debates the imminent doubling of Stafford loan rates, nearly 40 million existing borrowers are also looking for relief. Research shows that student debt has long-term impacts on economic decisions, such as purchasing a home or attending graduate school. Student loan debt has eclipsed both auto loans and credit card debt and is the only form of consumer debt that has significantly grown since 2008.
Sen. Gillibrand, who last month introduced legislation to refinance federal student loans to 4 percent, will deliver remarks on the existing $1 trillion in debt, as well as the benefits of addressing interest rates on existing student loans.
Following the senator’s remarks, Anne Johnson, Director of Campus Progress Action, will moderate a discussion with experts examining a wide range of options for interest rates and refinancing solutions on federal and private loans that will protect students from incurring astronomical levels of debt.