Students Lobby to Stop Interest Rate Increase

Advocacy groups, including Campus Progress, US PIRG, Rebuild the Dream and other student groups, delivered 130,000 letters from students to Congress on Wednesday, asking the lawmakers to stop the interest rate on subsidized student loans from doubling to 6.8 percent in July. President Obama has urged Congress to stop the rate increase, and Congressional Democrats have called for the change as well. Keeping the interest rate for subsidized loans at 3.4 percent would cost about $5 billion.