North Country Congressman Bill Owens voted Wednesday for bipartisan legislation to set student loan interest rates at 3.9 percent for subsidized and unsubsidized loans. The compromise bill passed the …
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North Country Congressman Bill Owens voted Wednesday for bipartisan legislation to set student loan interest rates at 3.9 percent for subsidized and unsubsidized loans.
The compromise bill passed the House 392 to 31.
On July 1, rates doubled to their current level of 6.8 percent due to congressional inaction. This bill lowers that rate.
“Though long overdue, passage of this bill brings certainty to student-borrowers and I am pleased Congress resolved this issue favorably for student-borrowers and their families,” Owens said.
Owens represents New York’s 21st Congressional District, which spans an area from Lake Ontario to Lake Champlain and south nearly to Albany.