Congressman Ryan part of push to fix student loan interest rates - 21 News Now, More Local News for Youngstown, 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 From wfmj.comMore>>

  • Police: Couple used dog to lure 2 Amish girls

    Police: Couple used dog to lure 2 Amish girls

    Thursday, August 21 2014 10:04 PM EDT2014-08-22 02:04:19 GMT
    A woman accused along with her boyfriend of abducting and sexually abusing two young Amish sisters is due in court for a preliminary hearing.More >>
    A northern New York couple used a dog to lure two Amish sisters from their family farm stand with a plan to turn them into slaves, an investigator said Thursday.More >>
  • State won't sell naming rights for Ohio Turnpike

    State won't sell naming rights for Ohio Turnpike

    Thursday, August 21 2014 9:30 PM EDT2014-08-22 01:30:13 GMT
    Ohio will pursue opportunities to collect revenue through sponsorships along the state turnpike but will not sell naming rights for the 241-mile toll road.More >>
    Ohio will pursue opportunities to collect revenue through sponsorships along the state turnpike but will not sell naming rights for the 241-mile toll road.
    More >>
  • Ohio State president meets with band leaders

    Ohio State president meets with band leaders

    Thursday, August 21 2014 9:23 PM EDT2014-08-22 01:23:42 GMT
    Courtesy:  NBC NewsCourtesy: NBC News
    Student and staff leaders of the Ohio State marching band have met with the university's president to share concerns over the firing of a popular band directorMore >>
    Student and staff leaders of the Ohio State marching band have met with the university's president to share concerns over the firing of a popular band directorMore >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms