The following is a Press Release from Senator Mary Landrieu:
U.S. Senator Mary L. Landrieu, D-La., released the following statement after today's vote by the Senate on the Stop the Student Loan Interest Rate Hike Act of 2012.
Interest rates on subsidized Stafford loans are set to double from 3.4 percent to 6.8 percent on July 1. This legislation, which Sen. Landrieu supported, would maintain the federal student loan interest rate at 3.4 percent for an additional school year.
The legislation was blocked today by Senate Republicans, who refused to allow debate of the measure.