By Kent Wainscott


MILWAUKEE —Students at Milwaukee Area Technical College in downtown Milwaukee protested Monday against the possibility of interest rates on student loans doubling.

They held signs on pleading with Congress to pass a bill to prevent them from having to pay more on their loans.

If Congress doesn't take action by July 1, seven million students with subsidized Stafford loans will see their rates double from 3.4 percent to 6.8 percent.

"The federal reserve has stated that student debt now surpasses total auto loan, credit card and home equity debt, and we cannot afford to add to students crushing debt like these," U.S. Rep. Gwen Moore said.

Democrats want a two-year extension of the current rates. Republicans want to link interest rates to financial markets.
 

To view this article online, please click here.