OUR TIME DAILY TRANSLATION
We've heard you say it many times: "Politics is like a foreign language." Well, we agree.
Each week, we summarize, simplify, and interpret different major news stories and how they affect our generation. We'll give you our take, and you can decide for yourself.
The current student loan plan is set to double on July 1, which could hike student loan interest rates from 3.4% to 6.8%.
The Senate has agreed to freeze the interest rates for one year, keeping loans affordable for more than 7 million students.
The freeze on student loan interest rates would save students on average $1,000.
WHY WE SHOULD CARE
Keeping college affordable is already a huge problem in America. The average student owes over $24,000 in student loans. Doubling the interest rate would make paying for college even more of a challenge.
OUR TIME OPINION
It is imperative to keep student loan interest rates low and keep them from doubling. Congress needs to create a plan that keeps interest rates low in the long run, not just for one more year.