WASHINGTON, D.C. - Congresswoman Marcia L. Fudge (OH-11) is pleased to announce the House passed H.R. 4348 today, legislation which included provisions to help make higher education financially manageable for students and their families by maintaining interest rates on need-based student loans at 3.4 percent.  The Congresswoman, who voted for the bill, issued the following statement:

“In February I, along with other Democrats on the Education and Workforce Committee, urged Republicans to stop the increase on student loans.  We received no response. Instead, House Republicans chose to pass a budget that would double the interest rate on 7 million young Americans, an age group that has the highest unemployment rate of any age group in our country," said Congresswoman Fudge.

"I am happy to announce that this legislation, which also revamps highway and transit programs and shores up the federal flood insurance program, now goes to the White House for President Barack Obama’s signature.”

“I am proud that Congress has reached an agreement to pass bipartisan legislation that will salvage 2.8 million jobs in America, and shielded more than 7 million students from a sharp increase in loan interest rates. Thanks to the families and students of this country, who kept this issue front and center, the Surface Transportation Reauthorization Act includes student loan interest rate relief.”

“Education is essential for America’s continued economic growth and progress.  Students around the country, and particularly in the 11th Congressional district of Ohio, will now save an average of $956 while repaying their loans thanks to this legislation. We must continue to focus on education, jobs and the needs of the American people."

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