Skip Ribbon Commands
Skip to main content

 Email  Share  Print

Statement of ACE President Molly Corbett Broad on Senate Student Loan Agreement

July 18, 2013

Capitol

 

"The compromise on student loan interest rates reached late last night is good news for students and families. On behalf of our 1,800 college and university members, representing all sectors of higher education, the American Council on Education strongly supports this agreement.

We support this plan for four reasons. First, it will immediately lower interest rates on federal student loans for all borrowers. Second, it will cap interest rates, protecting borrowers from dramatic increases in the future. Third, although rates will reset annually, students will always pay the rate at the time they borrow, providing predictability for their financial planning. Finally, by tying interest rates to the prevailing market rates, this agreement ensures students’ borrowing costs reflect broader economic conditions.

Federal student loans have become an essential ingredient in the financing of higher education for millions of students and families. The terms and conditions of these loans have a direct bearing on the ability of students to start and complete their education and on their financial well-being after they leave school.

We are pleased the Senate has reached a bipartisan agreement on this vital issue, and we urge swift passage."

MEDIA CONTACT: Erin Hennessy ▪ 202-939-9367 ▪ ehennessy@acenet.edu

Other ACE News

  • July 2, 2015

    Today's Headlines

    HEADLINES: Today's Top Higher Education News

    In today’s headlines, the Los Angeles Times editorializes in favor of the U.S. Supreme Court affirming the University of Texas at Austin’s admissions policy when the court rehears the Fisher case this fall. In other news, The Chronicle of Higher...

  • Institutional Capacity

    July 1, 2015

    Apply Now for ACE’s Institute for New Presidents

    New college and university leaders from all sectors of higher education can apply now for the 2015-16 ACE Institute for New Presidents, which is designed specifically for presidents in their first three years of service.

  • Supporting Student Veterans

    June 29, 2015

    Bob Woodruff Foundation Grant Extends Program to Train College Mental Health Counselors

    A grant from the Bob Woodruff Foundation will allow ACE to extend an initiative that trains college and university mental health counselors on how to better address issues such as post-traumatic stress and suicide prevention in their work treating...

  • June 26, 2015

    Education Department Scales Back Plan to Rate Colleges

    The Department of Education (ED) announced yesterday that it has scaled back the planned Postsecondary Institution Ratings System (PIRS) first announced by President Obama in August 2013.

  • Budget and Appropriations

    June 26, 2015

    Congress Moves Forward on Education Funding

    The House and Senate appropriations committees both passed their FY 2016 Labor, Health and Human Services, and Education bills this week, and the results were somewhat mixed for higher education.

 

 Related Content