Possible Student Loan Interest Rate Hike Prompts Visit to Rubio

With student loan interest rates poised to double, members of the Florida College Democrats plan to take action today.

Students from the group will visit Sen. Marco Rubio’s offices throughout the state asking for his support to keep rates low.

What do you think about the potential hike in student loan interest rates? Let us know in the comments section below.

“The interest rate on student loans is set to double unless Congress acts, and this week the U.S. Senate will vote on a plan to prevent this crippling hike – on the same day outstanding student loan debt in our country will hit $1 trillion,” a press release from the Florida College Democrats said. “But the outcome is far from clear. That’s why President Obama is urging Americans everywhere to tell Congress to prevent this increase —including students in Florida.”

To help garner the Republican Senator’s support, students will visit Rubio’s offices in Tampa, Miami, Jacksonville, Orlando and Palm Beach today to share their stories and concerns with Rubio’s staff members, the release said.

“Students in Florida are doing what they’re told: working hard in high school so they can get into college and graduate with the skills they need for the jobs of today and tomorrow,” the release said. “They shouldn’t have to sign away their future financial security when they sign up for college. But that’s what’s at stake if Congress fails to prevent interest rates on student loans from doubling.”

U.S. lawmakers are currently floating two separate plans to keep interest rates locked in at today’s 3.4 percent, according to Fox News. Neither of those plans seems to have enough support to move forward. Even so, analysts think a stop-gap measure will be put into place to prevent loan rates from doubling on July 1, Fox reports.

The Democrat student group will visit Rubio’s Tampa office, 3802 Spectrum Blvd., Suite 106, at 3 p.m. today, May 7.