Congressman Ryan part of push to fix student loan interest rates - WFMJ.com News weather sports for Youngstown-Warren Ohio

Congressman Ryan part of push to fix student loan interest rates

Posted: Updated:

YOUNGSTOWN, Ohio - College students applying for any new federal loans to cover tuition this fall face higher interest rates.

The interest rates on subsidized Stafford loans doubled to six-point-eight percent.

The higher rates could stick unless Congress keeps its promise to restore lower rates when it returns from the Fourth of July holiday.

Supporters of rolling back the rate before college students start signing loan documents this fall are pushing for action.

"Because of the gridlock in D.C., nothing got done, but there's a real push by me and others that are going to try and get this thing fixed," says Congressman Tim Ryan, Ohio (D)-13.

Ryan says he wants rates to be retroactive, so no one will pay additional money toward their loan debt.

While he's fairly confident a measure will be passed, he admits it does face hurdles with some conservatives to make it through the House and Senate.

"I'm fairly confident, but it is Washington, so you never do know," he says.

Ryan says the increase in interest rates couple with rising tuition costs is troubling and must be addressed.

"I think there's a sense of urgency, it wasn't urgent enough to fix it before it went into place, but there's an urgency to fix it and make it retroactive so no one will pay anymore," he says.

  • More NewsMore>>

  • Credit card skimming reported at Mercer County service station

    Credit card skimming reported at Mercer County service station

    Friday, May 26 2017 5:06 PM EDT2017-05-26 21:06:52 GMT

    Authorities in Mercer county are investigating reports of thieves skimming credit guards to steal consumers personal information. It happened recently at Wagler's Camp Perry service station in Clarks Mills.   Skimming happens when thieves unlock gas pumps and connect a skimmer to the card reader which steals information when a customer swipes a credit or debit card. 

    More >>

    Authorities in Mercer county are investigating reports of thieves skimming credit guards to steal consumers personal information. It happened recently at Wagler's Camp Perry service station in Clarks Mills.   Skimming happens when thieves unlock gas pumps and connect a skimmer to the card reader which steals information when a customer swipes a credit or debit card. 

    More >>
  • BA says most flights running; angry passengers face delays

    BA says most flights running; angry passengers face delays

    Sunday, May 28 2017 10:07 PM EDT2017-05-29 02:07:02 GMT
    British Airways says it's continuing to work hard to resume a normal flight schedule at two London airports a day after a global IT failure crippled its services.More >>
    British Airways says it's continuing to work hard to resume a normal flight schedule at two London airports a day after a global IT failure crippled its services.More >>
  • Teen charged in crash that sent vehicle into apartment building

    Teen charged in crash that sent vehicle into apartment building

    Sunday, May 28 2017 1:21 PM EDT2017-05-28 17:21:46 GMT

    A young driver is charged after an accident that left another vehicle in the side of a Youngstown Apartment building Friday night.  Police say Kiara Pickard, 18, of Youngstown, ran a stop sign before midnight Friday, causing the driver of a silver Toyota Corolla to go off the road.  Police saw Pickard driving down Hilton Avenue toward Market Street when they realized her car looked like it was recently involved in a crash.  They followed her to a home on Hilton Avenu...

    More >>
    A young driver is charged after an accident that left another vehicle in the side of a Youngstown apartment building Friday night.  Police say Kiara Pickard, 18, of Youngstown, ran a stop sign before midnight Friday, causing the driver of a silver Toyota Corolla to go off the road.  Police saw Pickard driving down Hilton Avenue toward Market Street when they realized her car looked like it was recently involved in a crash.  They followed her to a home on Hilton Avenu...More >>
Powered by Frankly
All content © Copyright 2000 - 2017 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms