Archived Information

Statement from U.S. Secretary of Education Arne Duncan on Action to Prevent Student Loan Interest Rates From Doubling

Press Office, (202) 401-1576,

“In his January State of the Union address, President Obama called on Congress to work together to keep student loan interest rates from doubling. Today, I applaud leaders in Congress for answering the President’s call to action and striking a deal that will help make college more affordable for millions of students.

“But most importantly, I want to thank the nation's young people for making their voices heard on an important economic issue directly affecting them. You spoke, the nation heard you, and Congress acted. Democracy worked because of your tireless efforts.

“Both the President and I believe education is a public good. College should not be reserved only for those who can afford it. All of us share responsibility for making college affordable and keeping the middle-class dream alive.

“Investing in education is the best investment America can make to bolster our competitiveness in a knowledge-based, global economy. If we don’t invest today, we will lose tomorrow.”