WILLIMANTIC, Conn. (AP) — U.S. Sen. Richard Blumenthal is meeting with students, faculty and administrators at Eastern Connecticut State University to discuss how they will be affected by the doubling of interest rates on student loans.
Rates on subsidized Stafford student loans doubled on July 1 from 3.4 percent to 6.8 percent. More than 7 million students could face an additional $1,000 in student loan debt.
Blumenthal has called on Congress to retroactively prevent the rate increase. He’s also participating in a social media campaign to encourage students to speak out against the rate hike and share their stories.
Blumenthal’s meeting at ECSU is scheduled for Monday morning.