U.S. Sen. Tim Kaine released the following statement following the vote to advance a proposal to keep subsidized Stafford student loan rates at 3.4%:
“I am extremely disappointed the proposal to keep subsidized Stafford student loan rates at 3.4% was stopped by a filibuster. I have long supported measures, including the Student Loan Affordability Act, that would have prevented the doubling of these rates.
“More than 179,000 students in Virginia rely on these loans and it is critical for their financial well-being that we keep interest rates low. Saddling students with high levels of debt hurts students, communities, and our economy. I will continue to work with my colleagues to find a proposal to keep these interest rates at a reasonable level.”
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