NHDP Chairman Raymond Buckley's Statement on President Obama's Commitment to Keeping Student Loan Interest Rates Low

Calls on Kelly Ayotte to vote against effort to double student loan rates


CONCORD - This week, the U.S. Senate will vote on a plan to prevent the interest rate on new subsidized student loans from doubling - on the same day outstanding student loan debt in our country will hit $1 trillion. But the outcome is far from clear. Kelly Ayotte should put her state before party and not let student loan rates double. Raymond Buckley chairman of the New Hampshire Democratic Party, released the following statement ahead of the vote:


 "President Obama is committed to keeping student loan interest rates low so that hardworking young Granite Staters can afford higher education to gain the skills they need to compete for and succeed in the jobs of today and tomorrow. If Congress does nothing, interest rates for new subsidized student loans are set to double from 3.4 percent to 6.8 percent on July 1, causing at least 7 million students to be hit with an average of more than $1,000 in additional costs over the life of that loan.  Such a hike would have a devastating effect on many New Hampshire student's ability to afford a college education.


"And with President Obama fighting for them, college students are left wondering if Mitt Romney and Kelly Ayotte will stand up to members of their own Republican Party and urge them to do the right thing to keep college affordable.


 "Romney also wants to cut millionaires' taxes by an average of $250,000 a year, while letting critical tax credits for middle-class Americans expire - including the college tax credit worth up to $10,000 over four years of college, which provides much-needed relief to more than 9 million hardworking middle-class families.