Schumer calls on Congress to block student loan rate hike - New York News | NYC Breaking News

Schumer calls on Congress to block student loan rate hike

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MYFOXNY.COM -

College students across the country will see their student loan rates double if Congress doesn't block an impending interest rate hike. 

Student loans for federally subsidized Stafford Loans will double to 6.8 percent.  

Senator Charles Schumer (D-NY) called on both chambers of Congress to approve a deal to block the rate hike on Sunday.  

250,000 undergraduate students in New York City, Long Island and the Hudson Valley receive the federally subsidized Stafford Loans.

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