US Rep. Peter Welch Hears Student Debt Stories at UVM - FOX44 - Burlington / Plattsburgh News, Weather & Sports

US Rep. Peter Welch Hears Student Debt Stories at UVM

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BURLINGTON, Vt. -

U.S. Rep. Peter Welch compiled stories from Vermont students and families about the burden of rising student debt Monday at the UVM Davis Center.

According to a press release, Welch urged students to share their stories on his website at www.welch.house.gov/studentdebt.

Student debt is topping $1 trillion nationwide. Nearly 70% of college graduates hold an average of $30,000 in debt.

"Increasing tuition costs and mounting student loan debt are hanging a financial albatross around the necks of college students and their parents," Welch said. "Congress must act to block the doubling of student loan interest rates and begin to get a handle on college affordability."

Interest rates for Federal Direct Stafford Student Loans could double if Congress doesn't act before July 1.

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