Rich Williams, the higher education advocate for U.S. Public Interest Research Group, said he thought about 14 moderate Republican senators might support the effort to keep the interest rates down. “This should be a bipartisan issue,” he said. “It’s something everyone gets.”
Without a new plan, the average subsidized Stafford loan borrower will pay $2,800 more by the time they repay their loans. The most needy students will pay a crushing $5,000 more on their student loan than they otherwise would.