Tester statement on student loan rates

(U.S. SENATE) – Senator Jon Tester today released the following statement after voting to pass the Keep Student Loans Affordable Act, which would prevent student loan rates from doubling on federally provided Stafford Loans. A majority of Senators voted to pass the bill, but it failed to reach the 60-vote threshold needed to pass the Senate:

“Common-sense measures that make education more affordable and accessible for Montanans build our economy. We need to develop a fair solution that doesn’t saddle students with unsustainable debt, and this measure would have helped keep debt loads manageable. I will continue to fight for a fair solution that keeps loan rates low and higher education within reach for Montanans.”

According to the Montana University System, over 24,000 Montana students will rely on federal student loans to pay for their education in the upcoming school year.