Stafford Loans are part of an enduring legacy left by the late Vermont Senator Robert T. Stafford who sometimes fought people in his own party on education issues.
The loans were created in the 1960s and named after Stafford in honor of his work on education during his years in Congress.
Interest rates on federally-subsidized student Stafford Loans are set to
double on July 1st, from 3.4 to 6.8 percent, unless Congress takes
action. Vermont’s congressional delegation is speaking out against
the planned rate increase.
Representative Peter Welch has been speaking out about what he says
is the necessity of keeping interest rates on Stafford Loans from doubling, and the greater issues of
student loan debt and college affordability.