Gwen Moore Calls for Solution to Student Loan Crisis

With student loan interest rate hikes looming, U.S. Rep. Gwen Moore joined Milwaukee students on Monday in calling for a long-term solution to the student loan debt crisis.

"It's time to take action and stand up not only for these students, but stand up for the American economy,” the Milwaukee Journal Sentinel quoted Moore as saying during a news conference at the Milwaukee Area Technical College. 

Moore represents Wisconsin's 4th Congressional District, which recently expanded to include Shorewood, Whitefish Bay, Fox Point, Glendale and Bayside. 

Students attending school on subsidized Stafford student loans could see their interest rates double on July 1 — from 3.4 percent to 6.8 percent, if Congress doesn't act to maintain current rates, Moore said. Subsidized Stafford loans are awarded based on economic needs of students. 

“In our recovering economy, it is absurd that we are even debating whether or not to keep student loan interest rates low,” Moore said in a press release. “Student loan debt has reached over $1 trillion, impacting more than 7 million students. We must come together before July 1 to support our students, not double their burden.”  

Two proposals to prevent the rate increase were defeated in Congress last week.