NEA applauds cuts in student loan interest rates

The NEA applauded the passage of H.R. 5, the College Student Relief Act of 2007, as an important step to making higher education more accessible and affordable for all students. The plan will cut the interest rate on federally subsidized student loans in half over the next five years. The legislation, which passed the House 356-71 with substantial bipartisan support, now moves to the Senate.

NEA president Reg Weaver said “Students shouldn’t be forced to choose between either not going to college or coming out of school saddled with massive debt. Higher education doesn’t only benefit graduates who can earn better-paying jobs. It benefits everyone through a more informed, engaged and active citizenry. We all have a responsibility to make sure higher education is accessible and affordable, and this is an important step in getting there. We urge the Senate to do the same in coming weeks.”

Read more about the NEA's position on H.R. 5.