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Welch To Hold Meeting To Discuss Student Loan Interest Rate Increase

Congressman Peter Welch is meeting with reporters today to talk about preventing an increase in the interest rates charged on federal student loans.

Welch has scheduled his meeting today at the Burlington International Airport to discuss the issue.

If Congress doesn't act on July 1, the interest rate charged on some student loans will increase from 3.4 to 6.8 percent.

Last year Welch helped beat back an effort to increase the rate.

Welch and others argue Congress shouldn't make it more expensive for students to get an education.

But supporters of allowing the rate to increase counter that the lower rates cost the government billions of dollars a year.

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