U.S. Sen. Richard Blumenthal was scheduled to speak about student loan interest rates this morning at Eastern Connecticut State University, according to his office.
Blumenthal’s appearance comes one week after Congress did not take action to stall a schedule interest rate hike on certain types of federal student loans.
On July 1, rates on subsidized Stafford student loans doubled from 3.4 percent to 6.8 percent.
Blumenthal is a cosponsor on the Bank on Student Loans Fairness Act, which would apply the same low interest rates to federal student loans as banks get through the Federal Reserve Bank’s borrowing window — about 0.75 percent. The bill was referred to the Senate Health, Education, Labor, and Pensions committee in April.
