Students Face Higher Loan Interest Rates Thanks To Sean Patrick Maloney

  For Immediate Release

May 23, 2013

Contact: Press Office

(202) 479-7070

 

 

Students Face Higher Loan Interest Rates Thanks To Sean Patrick Maloney

Maloney Owes Voters An Explanation After His Vote Today

WASHINGTON – Today, Sean Patrick Maloney inexplicably voted against legislation that would work to lower student loan interest rates. The bill, which received bipartisan support, would prevent student loan interest rates from increasing on July 1st.

 

Now, thanks to Maloney and his fellow Democrats, students across the country could see a rise in their rates. Maloney owes an explanation to the many hard-working students in New York whose rates are at risk because of his own intransigence. It’s time he put aside his allegiance to Nancy Pelosi and her liberal agenda and start supporting common-sense legislation like this.

“It’s not surprising that Sean Patrick Maloney chose to put politics over a bill to prevent student loan rate hikes,” said NRCC Communications Director Andrea Bozek. “New York voters deserve an explanation as to why he would vote against a common-sense bill that garnered bipartisan support.”

 

Sean Patrick Maloney Voted To Allow Student Loan Interest Rates To Increase. (H.R. 1911, Roll Call Vote 183, 221-198, 5/23/13)

 

Today’s Bill Prevents Interest Rates From Doubling On Millions Of Student Loan Borrowers And Removes Politicians From Setting Student Loan Rates, Which President Obama Has Requested. “The House Republicans’ proposal would tie loan rates to the interest rate on a 10-year Treasury note, plus 2.5%, with a cap that would prevent the interest rate on Stafford loans from rising above 8.5%.” (Susan Davis, “House Begins Effort To Head Off Student Loan Increase,” USA Today, 5/22/13)

 

 

 

NRCC 320 First Street SE Washington, DC 20003 (202) 479-7000

www.nrcc.org

Bazzo 05/24/13

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