Lawmakers will lead a roundtable discussion today on the new student loan hike

Lawmakers plan to meet with students, parents and school administrators Monday to discuss the student loan rate hike before heading back to Washington, D.C.

Congresswoman Lois Frankel and Congressmen Ted Deutch and Patrick Murphy will lead the round table discussion at Palm Beach State College to talk about how the new rate will impact families.

Subsidized federal student loans have doubled from 3.4% to 6.8%.

The rate went into effect July 1st.

A majority of Florida graduates have an average debt of more than $23,500.00 dollars.

Lawmakers said increasing the rate would hurt future grads which would ultimately be detrimental to the economy.

State reps are calling on Congress to make a deal that would keep rates low before students head back to school in the fall.

Other lawmakers are looking at a possible ten year plan that would keep rates locked in for the life of the loan.

A vote could come as early as Wednesday to extend the current rate for another year.


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