Vermont US Rep. Welch Has Plan For Student Interest - FOX44 - Burlington / Plattsburgh News, Weather & Sports

Vermont US Rep. Welch Has Plan For Student Interest

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SOUTH BURLINGTON, Vt. -

Vermont's lone member of the U.S. House says he has a plan to head off the scheduled doubling of student loan interest rates.

Rep. Peter Welch, a Democrat, is pushing for the passage of legislation that would extend the 3.4 interest rate for Stafford student loans. He said Monday that the rate will doubled to 6.8 percent on July 1 if Congress doesn't act, which he said would be a real threat to middle class families already struggling to send their kids to college.

Welch was joined at a press conference by concerned students and families and representatives of the Vermont Student Assistance Corporation.

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