Student loan debate raises issue of college affordability for Latinos
The cost of attending college could become even more of a burden for many young Latinos. From late-night talk shows to news blogs, the debate over the cost of student loans has quickly become one of the most pressing topics in the U.S.
At issue is the federally subsidized student loan know as the Stafford loan. The interest rate on these loans could rocket up from 3.4 percent to 6.8 percent starting July 1. If lawmakers don’t act, that could affect up to 7.4 million student borrowers, according to White House data.
While both parties want to keep the Stafford loan rate from doubling, Congress is once again divided over how to pay for it.
Last week, House Republicans proposed paying the $6 billion bill by cutting a preventative care fund created under President Barack Obama’s healthcare law. The fund is meant to help fight obesity, diabetes, cancer, and infectious diseases. That proposal likely will die in the Senate where Democrats seek to keep the loan rate at 3.4 percent and pay the $6 billion by eliminating tax loopholes for some small companies.
While meaningful, the debate over interest rates has brought to light a much bigger issue for all students: college affordability.
Read the full story at Univision News