In the News

Student loan rates for millions across the country are set to double on July 1 unless lawmakers in Congress act. They were initially lowered when the recession started to help families as the economy tanked.

Right now, the rate on a typical subsidized student loan is 3.4%.  That is set to go to 6.8% on July 1.

Washington Congresswoman Suzan DelBene is sponsoring a bill to extend the rate at its current level for two more years, giving Congress time to create a long-term higher education funding plan. She held a discussion Thursday with students at the UW Bothell campus.

“Interest rates doubling would be devastating, and many of these students wouldn’t be able to continue their education,” DelBene said.

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